Taiwan’s foreign exchange reserves hit record high

Taipei Times
Date: Jan 06, 2019
By: Staff writer, with CNA and Reuters

The nation’s foreign exchange reserves hit another all-time high at the end of last month due to an increase in returns on the portfolio managed by the central bank, the bank said on Friday.

Several non-US dollar currencies in the portfolio appreciated against the greenback. When assets denominated in those currencies were converted into US dollars, the foreign exchange reserves also grew.

Taiwan’s foreign exchange reserves last month rose US$409 million from a month earlier to US$461.78 billion, a new high for the second consecutive month, central bank data showed.

The nation’s foreign exchange reserves rose 2.27 percent from the end of 2017 to the end of last year, the data showed.    [FULL  STORY]

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