Foreign exchange reserves hit new high in April

Focus Taiwan
Date: 2017/05/06
By: Chiu Po-sheng and Frances Huang

Taipei, May 6 (CNA) Taiwan’s foreign exchange reserves for April hit a new high partly due to an increase in returns in the Central Bank of the Republic of China’s management of the assets in the month, according to the central bank.

The bank said that due to a stronger euro, which got a boost from reduced fears over a victory of a populist candidate in France’s presidential election, conversion of the European common currency into the U.S. dollar raised the value of Taiwan’s forex reserves in April.

As of the end of April, Taiwan’s forex reserves was up US$900 million from the end of March to US$438.43 billion, a record high in the country’s history.

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.