By the end of 2023, global FX reserves would have reached $12.3 trillion.

Source: newsthemegh.com/Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Global forex reserves hit $12.3 trillion at the end of 2023 representing a 3.5% year-on-year increase from the $11.92 trillion recorded a year earlier.

This is according to the latest data from the IMF’s Currency Composition of Official Foreign Exchange Reserves. Ghana’s forex reserves at the end of April this year stood at $6.59 billion representing a meagre 0.05% of the global FX reserves.

This, however, represents a marginal increase from the 0.048% share of the country’s global FX reserves when its gross reserves stood at $5.91bn at end-December 2023.