By: Pan Tzu-yu and Frances Huang
Taipei, Aug. 22 (CNA) Chinese yuan deposits held by banks in Taiwan fell to the lowest in six and a half years at the end of July, due to a drop in interest rates, according to the central bank.
Central bank data showed yuan deposits in domestic banks dropped to 240.99 billion yuan (US$34.83 billion) in July, down 184 million yuan from the previous month.
It was the lowest level since February 2014, when yuan deposits stood at 247.05 billion yuan, according to the data.
A continued decline in interest rates on the yuan made the currency less attractive to many investors, who moved their funds into other holdings, the central bank said. [FULL STORY]