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Taiwan's foreign exchange reserves reach record high

Taiwan's foreign exchange reserves reach record high

Taipei, Sept. 4 (CNA) Taiwan's foreign exchange reserves increased by US$2.835 billion to US$424.79 billion as of the end of August, a record high in history, according to the Central Bank Friday. Foreign funds outflow meanwhile reached US$3.483 billion, a new high in 47 months, the central bank added. The bank attributed the increase mainly to profits generated by investments made with the nation's foreign exchange reserves and the euro and other reserve currencies appreciating against the US dollar, which caused dollar-denominated foreign exchange reserves to increase, said Yen Hui-huang (???), head of the central bank's Department of Foreign Exchange. The balance of stocks, bonds and deposits denominated in New Taiwan Dollars held by foreign investors was US$250.7 billion as of the end of August, accounting for 59 percent of Taiwan's foreign exchange reserves, the central bank said.
That figure was down from the US$277.6 billion in July. Compared with the end of July, the foreign investors' cut of holdings in securities and bonds was down US$26.9 billion. (By Tsai Yi-chu and Kuo Chung-han)


Updated : 2021-09-19 17:31 GMT+08:00