International alternate reserves hit new report at $ 543 billion

The rise is partly because of the appreciation of worldwide currencies in its portfolio towards the US greenback, the central financial institution stated.

Taiwan’s overseas alternate reserves final month rose $ 1.85 billion from January, to a brand new report excessive of $ 543.33 billion, regardless of slower progress from the earlier three months, when reserves declined. elevated by USD 11.57 billion, USD 16.51 billion and USD 12.16 billion respectively. the central financial institution stated on Friday.

International Change Division Director Basic Tsai Chiung-min (蔡炯民) stated the slower enhance was because of the stability of provide and demand within the native foreign exchange market.

In latest months, the central financial institution has taken steps to sluggish the appreciation of the brand new Taiwan greenback towards the US greenback, together with shopping for up the US forex, which has elevated Taiwan’s overseas alternate reserves.

Photograph: Bloomberg

Tsai didn’t say whether or not the central financial institution elevated its purchases of US {dollars} final month, however stated Taiwan recorded a internet outflow of round US $ 20 million final month, citing information from the Monetary Supervisory Fee (FSC).

This means a stability between provide and demand available in the market, with traders adjusting their portfolios, he stated.

The rise in overseas alternate reserves can be partly as a result of increased returns on the financial institution’s investments, he stated.

Different currencies in its funding portfolio appreciated towards the US greenback, the central financial institution stated.

Final month, the euro rose 0.5% towards the dollar, the pound rose 2.07%, the Canadian greenback rose 2.13% and the Australian greenback rose 2.72 %, leading to a rise within the worth of the central financial institution’s reserves in these currencies in US {dollars}, the central financial institution stated.

The worth of overseas traders’ holdings of Taiwanese NT dollar-denominated shares, bonds and deposits stood at US $ 670.3 billion final month, up $ 24.6 billion from January, due a powerful native inventory market, mirrored within the 5.39% rise in TAIEX.

The holdings of overseas traders accounted for 123% of the central financial institution’s overseas alternate reserves, up from 119% in January, setting a brand new report, based on the information.

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