Focus Taiwan
Date: 2016/09/05
By: Chiu Po-sheng and Romulo Huang

Taipei, Sept. 5 (CNA) Taiwan’s foreign exchange reserves set a new record at the end of August thanks to an increase in investment returns from the central bank’s management of the assets in the month, the bank said Monday.

As of the end of August, Taiwan’s foreign exchange reserves totaled US$435.86 billion, up US$1.78 billion from a month earlier, marking the seventh consecutive month for the country to report a new high in its forex reserves, it said.

The bank attributed the increase in foreign exchange reserves in August mainly to returns from foreign exchange reserves management and the appreciation of the euro and other reserve currencies against the U.S. dollar.

“Foreign exchange reserves denominated in these currencies were worth more in terms of the base currency, the U.S. dollar,” it noted.     [FULL  STORY]