September 21, 2023

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International exchange reserves 2nd-maximum on history

2 min read
  • By Crystal Hsu / Staff reporter

Taiwan’s international trade reserves final thirty day period climbed to US$543.28 billion — the 2nd-maximum figure in the nation’s background — rising for a 3rd consecutive thirty day period and retaining the fifth-most significant posture globally, the central financial institution mentioned yesterday. &#13

Section of Foreign Trade Director-Common Eugene Tsai (蔡炯民) generally attributed the regular boost of US$304 million in international exchange reserves last month to the central bank’s management, even although its euro, British pound, Japanese yen and Chinese yuan holdings weakened towards the US greenback.&#13

“Overall, the industry preserved its equilibrium despite a web global fund outflow,” Tsai reported.&#13

Image: Chen Mei-ying, Taipei Situations

Overseas money fled Taiwan last thirty day period right after US financial facts defeat market expectations and the US Federal Reserve reported that it would ponder increasing interest costs ahead of program, Tsai stated.&#13

The greenback attained in price as a result of world wide funds movements, he explained.&#13

International portfolio administrators trimmed their holdings in neighborhood shares by US$1.92 billion and wired a different US$2.7 billion in funds gains, Tsai stated, citing info from the Monetary Supervisory Fee.&#13

Nevertheless, local securities and money owed held by overseas buyers totaled US$715.7 billion, equal to 1.32 times the nation’s international trade reserves, the central financial institution stated.&#13

That was constant from one particular thirty day period previously and meant foreign cash remained interested in regional shares, detailing why the TAIEX consistently rallied to file highs, Tsai stated. &#13

The TAIEX finished up 1.18 p.c at a report 17,919.33 yesterday, Taiwan Inventory Exchange information confirmed.&#13

China remained the top holder of foreign exchange reserves globally, followed by Japan, Switzerland and India, Tsai explained.

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