Taiwan’s gold reserves drop nearly NT$380 billion

Taiwan News
Date: 2015-11-23
By: Central News Agency

The face value of the gold reserves held by Taiwan’s central bank has dropped by nearly NT$380 billion (US$11.68 billion) amid falling global gold prices, but the nation’s foreign exchange reserves remain at a record high.

With the U.S. dollar strengthening, the price of gold has fallen to around US$1,076 per ounce in New York, the lowest in six years.

When compared with the peak price of US$1,920 per ounce in September 2011, it means that the value of the gold reserves at the Central Bank of the Republic of China (CBC) has declined by nearly NT$380 billion.

However, Taiwan’s foreign exchange reserves at the end of the October were US$426.774 billion, up US$449 million from September, according to the CBC.     [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Your email address will not be published.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.