By: Chiu Po-sheng and Frances Huang
Taipei, Dec. 5 (CNA) Taiwan’s foreign exchange reserves at the end of November hit a new high on the back of an increase in returns on funds managed by the central bank, the bank’s data showed Tuesday.
The central bank said the increase in forex reserves in November also reflected the euro’s appreciation against the U.S. dollar to boost the total assets, since the European currency is part of the central bank’s assets management portfolio.
As of the end of November, forex reserves totaled US$450.47 billion, up US$2.68 billion from a month earlier, the statistics indicate.
It was the eighth consecutive month in which the forex reserves moved higher, the central bank said.