Taiwan’s foreign exchange reserves reach record high

Focus Taiwan
Date: 2015/09/04
By: Tsai Yi-chu and Kuo Chung-han

Taipei, Sept. 4 (CNA) Taiwan’s foreign exchange reserves increased by US$2.835 billion to US$424.79 billion as of the end of August, a record high in history, according to the Central Bank Friday.

Foreign funds outflow meanwhile reached US$3.483 billion, a new high in 47 months, the central bank added.

The bank attributed the increase mainly to profits generated by investments made with the nation’s foreign exchange reserves and the euro and other reserve currencies appreciating against the US dollar, which caused dollar-denominated foreign exchange reserves to increase, said Yen Hui-huang (顏輝煌), head of the central bank’s Department of Foreign Exchange.     [FULL  STORY]