crisis, such as stabilization funds. If those were included, Norway, Singapore and Persian Gulf States would rank higher on these lists, and United Arab Emirates' estimated $627 billion Abu Dhabi Investment Authority would be second after China. Apart from high foreign exchange reserves, Singapore also has significant government and sovereign wealth funds including Temasek Holdings (last valued at US$375 billion) and GIC Private Limited (last valued at US$440 billion). ECN is a unique electronic communication network that links different participants of the Forex market: banks, centralized exchanges, other brokers and companies and private investors. List of countries by foreign-exchange reserves List of countries by foreign-exchange reserves (excluding gold) See also Balance of payments Endaka Foreign-exchange reserves of China Foreign-exchange reserves of India International Reserves of the Russian Federation Foreign exchange market Global assets under management References External links Sources The World Factbook, CIA Taiwan's Department of Investment Services data on foreign exchange reserves of major countries Central Bank of Brazil – Daily updated foreign exchange reserves Bank of Korea's top ten foreign exchange reserves holding countries monthly Hong Kong Official Reserves Ranking European Central Bank data on eurosystem reserves Articles Guidelines for foreign exchange reserve management Accompanying Document 1 Document 2 Appendix "What is Foreign Exchange?" published by the International Business Times AU on 11 February 2011 A primer on exchange reserves An empirical analysis of foreign exchange reserves in emerging Asia – December 2005 Foreign exchange reserves: issues in asia – January 2005 Foreign exchange reserves in east asia: why the high demand? – 25 April 2003 Optimal currency shares in international reserves Are high foreign exchange reserves in emerging markets a blessing or a burden? The adequacy of foreign exchange reserves Are changes in foreign exchange reserves well correlated with official intervention? Foreign exchange reserves buildup: business as usual Compositional Analysis Of Foreign Currency Reserves In The 1999–2007 Period. The Euro Vs. The Dollar As Leading Reserve Currency Speeches Y V Reddy: India's foreign exchange reserves – policy, status and issues – 10 May 2002 Marion Williams: foreign exchange reserves – how much is enough? – 2 November 2005 Lawrence H. Summers: Reflections on global account imbalances and emerging markets reserve accumulation – 24 March 2006 Books Eichengreen, Barry. Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System. Oxford University Press, USA, 2011. International macroeconomics Macroeconomic indicators Government finances