Taiwan’s foreign exchange reserves hit a record high of US$399.54 billion in April, up US$6.92 billion from the end of March, the Central Bank of the ROC said May 5.
The increase in forex holdings is due mainly to the depreciation of the U.S. dollar and high returns from management, according to the CBC.
“In addition to the NT dollar’s 2.28-percent appreciation against the greenback in April, key currencies such as the euro, rising 4.6 percent, have also appreciated, resulting in larger foreign reserves for Taiwan,” Lin Sun-yuan, director-general of the CBC’s Department of Foreign Exchange, said.
Taiwan’s forex reserves continue to rank fourth in the world behind mainland China, Japan and Russia.
The CBC currently holds gold deposits of 13.62 million ounces, or 423 tons, accounting for 4.99 percent of Taiwan’s forex reserves in market value. (THN)
Write to Aaron Hsu at pj1210meister@mail.gio.gov.tw