By: Liao Yu-yang and Christie Chen
Taipei, Feb. 12 (CNA) Taiwan’s foreign exchange (forex) reserves hit another all-time
high at the end of January due to increased returns from the central bank’s management of forex reserves and the appreciation of the euro and other currencies against the U.S. dollar, the bank said Tuesday.
The central bank said that at the end of January, Taiwan’s foreign exchange reserves totaled US$463.043 billion, an increase of US$1.259 billion from a month earlier.
It was the third consecutive month in which Taiwan had posted record high forex reserves.
In addition to the central bank’s management of the forex reserves, the appreciation of the euro and other currencies against the U.S. dollar also contributed to the increase in January’s foreign exchange reserves, according to Harry Yen (顏輝煌), head of the bank’s Foreign Exchange Department. [FULL STORY]