Focus Taiwan
Date: 2016/12/05
By: Chiu Po-sheng and Frances Huang
Taipei, Dec. 5 (CNA) The depreciation of the euro, which is one of the currencies in the Taiwanese
CNA file photo
central bank’s foreign exchange reserves’ portfolio, dragged down Taiwan’s forex reserves in November, the bank said Monday.
Citing data, the central bank said that Taiwan’s forex reserves at the end of November stood at US$434.35 billion, down US$915 million from a month earlier, marking the second consecutive month for the country’s foreign reserves to register a fall.
Before a fall in October, Taiwan’s forex reserves hit a record high for the eighth consecutive month in September.
According to the central bank, an about 3 percent fall of the euro against the U.S. dollar in November pushed down Taiwan’s forex reserves as the European currency was converted into the greenback in the central bank’s portfolio. [FULL STORY]
