By: Su Ssu-yun and Frances Huang
Taipei, May 5 (CNA) Taiwan's foreign exchange reserves continued their rise to a new high at the end of April, despite the economic impact of the COVID-19 coronavirus pandemic, taking the country to the fourth spot in forex reserves holdings in the world, the central bank said Tuesday.
Taiwan surpassed Saudi Arabia, moving up one notch to fourth place in April, with forex reserves as of April up US$1.397 billion from a month earlier to US$481.78 billion, according to data compiled by the central bank.
According to the bank, China remained in the top spot in the rankings after reporting US$3.06 trillion in forex reserves as of the end of March, down US$46.1 billion from a month earlier.
Japan came in second, after reporting US$1.296 trillion in forex reserves at the end of March, up US$7.5 billion from a month earlier, ahead of Switzerland, which owned US$791.2 billion in forex reserves as of the end of March, down US$4 billion from a month earlier. [FULL STORY]