Foreign exchange (FX) reserves are rising across the majority of rated Asia Pacific (Apac) sovereigns, and, if sustained, will strengthen external buffers and support credit profiles, according to Fitch Ratings. Fitch estimates that reserves rose during Q3 2024 in at least 15 of the 20 Apac sovereigns in its portfolio, continuing the a trend over the last 12 months, in which at least 10 have seen double-digit percentage increases.