Taiwanese banks’ Chinese yuan deposits down for 2nd consecutive month

Taiwan News
Date: 2016-04-16
By: Chiu Po-sheng and Frances Huang, Central News Agency

Taipei, April 16 (CNA) Chinese yuan-denominated deposits held by banks operating in Taiwan fell for the second consecutive month in March in the wake of the Chinese currency’s depreciation against the U.S. dollar, according to the central bank.

Citing statistics, the bank said that the balance of yuan deposits, including negotiable certificates of deposit (NCDs), held by banks in Taiwan totaled 314.32 billion (US$48.36 billion) as of the end of March, down 2.503 billion yuan or 0.79 percent from a month earlier, marking the second consecutive monthly drop.

The fall in March pushed down the balance of yuan deposits taken by banks in Taiwan to a new 14-month low.     [FULL  STORY]

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