What are forex reserves?

[PIPruit]

I read about forex reserves somewhere, does anyone know what are forex reserves?

 

[Gakree]

The basic terms have tremendous significance.
It's great that you want to get to grips with it all.

 

[Arafx]

I read about forex reserves somewhere, does anyone know what are forex reserves?

Forex reserves are foreign currency deposits held by a country's central bank or monetary authority. Forex reserves are used to support the country's currency and maintain the exchange rate stability by buying or selling foreign currencies. The reserves can also be used to pay for imports, service foreign debt, or provide liquidity in times of crisis. Forex reserves typically include major currencies such as the US dollar, euro, and yen, as well as gold and other assets.

 

[Komondar]

Forex reserves are foreign currencies and other assets held by a country's central bank to support its currency's stability and international trade.

 

[ArnavDeshmukh]

I read about forex reserves somewhere, does anyone know what are forex reserves?

They are assets held by a central bank or monetary authority in various foreign currencies.

 

[eleanorkim]

I read about forex reserves somewhere, does anyone know what are forex reserves?

Sure thing, buddy! Forex reserves are like a country's stash of foreign currencies held by their central bank. They're there to keep things stable, make international trade smoother, and help with managing monetary policies

 

[ImogenBeaumont]

they are assets held by a country's central bank or monetary authority in various foreign currencies.

 

[ficko91]

Forex reserves are foreign currencies held by a country's central bank to support its international transactions and stabilize its currency value

 

[Dushan]

Forex reserves are assets held by a country's central bank or monetary authority.