Taiwan’s forex reserves hit new high at end of July

Focus Taiwan
Date: 2019/08/05
By: Pan Tsu-yu and Frances Huang

Taipei, Aug. 5 (CNA) Taiwan's foreign exchange reserves hit a record high at the end of July largely because of higher returns on the central bank's investment portfolio, the bank said Monday.

The country's forex reserves were US$467.23 billion as of the end of July, up US$261 million, or 0.06 percent, from a month earlier, according to data compiled by the central bank.

The increase was smaller than the month-on-month rise of US$2.54 billion in June, however, because a weaker euro dragged down the U.S. dollar value of euro-denominated assets in the central bank's investment portfolio.

At the end of July, the holdings of Taiwanese stocks, bonds and Taiwan dollar-denominated deposits by foreign investors totaled US$376.8 billion, up from US$367.9 billion at the end of June.

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