Taiwan’s forex reserves surpass US$500 billion at end of October

Focus Taiwan
Date: 11/06/2.020
By: Pan Tzu-yu and Frances Huang

CNA file photo

Taipei, Nov. 6 (CNA) Taiwan's foreign reserves at the end of October recorded a new high of over US$500 billion, with the central bank citing an increase in investment returns from its management of the portfolio as the major factor.

Central bank data showed the country's forex reserves at the end of October at US$501.24 billion, up US$1.64 billion from a month earlier and breaching the US$500 billion mark for the first time.

Speaking to reporters Thursday, Henry Yen (顏輝煌), head of the bank's Foreign Exchange Department, said the bank's management of the forex reserves had boosted investment returns.

In October, Taiwan retained its place as holding the fifth largest forex reserves in the world, after China (US$3.14 trillion), Japan (US$1.31 trillion), Switzerland (US$945.5 billion), and India (517.5 billion), according to the central bank.    [FULL  STORY]

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