Wed, Sep 08, 1999 - Page 17 News List

Taiwan's forex reserves rise past US$100bn mark

BLOOMBERG , TAIPEI

aiwan's foreign exchange reserves rose for a 14th consecutive month in August, increasing 1.6 percent from July.

Foreign currency reserves reached US$100.13 billion at the end of August, the central bank said, rising to the highest level since June 1995.

Reserves were bolstered in August by a US$836 million merchandise trade surplus. Foreign institutional and corporate investors also bought a net NT$33 billion (US$1.0 billion) of Taiwan stocks in August, bringing some of that capital in during the month.

The New Taiwan dollar strengthened about 1.1 percent against the US dollar in August.

Taiwan has the world's fourth-largest foreign exchange reserves, exceeded only by those of the EU, Japan and China.

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