Forex reserves’ 12-month rising streak ends in April

Focus Taiwan
Date: 2018/05/05
By: Chiu Po-sheng and Frances Huang

Taipei, May 5 (CNA) Taiwan’s foreign exchange reserves broke a 12- month rising streak at the end of April as total foreign currency holdings fell from a month earlier, reflecting the depreciation of non-U.S. dollar currencies, including the euro, in the central bank’s asset management portfolio, according to the bank.

When non-U.S. foreign currency denominated assets were converted into the U.S. dollar in the investment portfolio, the central bank said, an increase in returns from the bank’s asset management efforts was compromised, which dragged down the value of these non-greenback denominated assets in U.S. dollar terms as of the end of April.

Data compiled by the central bank showed Taiwan’s forex reserves at the end of April stood at US$457.13 billion, down US$56 million from a month earlier, stopping a 12-month increase.    [FULL  STORY]