Print

Mail

wiki links

Foreign exchange reserves up

Foreign exchange reserves hit a record high of US$148.24 billion at the end of June from US$139.82 billion at the end of May, the central bank said yesterday. The rise was due to capital fund inflows, including proceeds from overseas fund-raising activities, and a rising trade surplus, said Paul Hwang, deputy director of the central bank's foreign exchange department. In addition, the increased US dollar value of the central bank's euro and yen holdings and interest paid on foreign exchange reserves also pushed the nation's foreign reserves higher, the central bank said. The US dollar accounts for the bulk of Taiwan's foreign exchange reserves -- the third-largest in the world behind China and Japan -- with much of the rest being made up of euros and yen. It was the 10th consecutive month that foreign exchange reserves have hit a record high.
This story has been viewed 1882 times.