Taiwan’s forex reserves hit new high in May

Focus Taiwan
Date: 2018/06/05
By: Chiu Po-shen and Ko Lin

Taipei, June 5 (CNA) Taiwan’s foreign exchange reserves as of the end of May hit a new high, largely on increased returns from the central bank’s fund management, the bank said Tuesday.

As of the end of May, Taiwan’s forex reserves amounted to US$457.27 billion, an increase of US$144 million from a month earlier, the central bank’s data shows.

The bank said however that the euro depreciated 3.3 percent against the U.S. dollar in May, making it the primary factor to buck the growth trend of Taiwan’s forex reserves in the U.S. dollar.

Holdings of Taiwanese stocks, bonds and Taiwan dollar-denominated deposits by foreign investors were up US$4 billion in May from a month earlier after the local main board rose about 2 percent, which also contributed to Taiwan’s forex gains, said Harry Yen (顏輝煌), head of the central bank’s Foreign Exchange Department.    [FULL  STORY]

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.