Taiwan’s Foreign Exchange Reserves Rise for 9th Month

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copyright Ken Teegardin, www.SeniorLiving.Org

Taiwan’s Central Bank announced on Friday that its foreign exchange reserves increased for the ninth consecutive month as of the end of December 2017 to US$451.5 billion (NT$13.3 trillion). The amount increased by US$1.03 billion from the end of November 2017.

The bank said that the foreign exchange reserves saw an annual increase of US$17.4 billion, the highest in five years.

The Central Bank attributed the gains to returns from foreign exchange reserves management and the appreciation of the euro against the US dollar. The euro gained 13.7% vs. the US dollar this year.

The bank further stated, “The market value of securities investment and the NTD deposits held by foreign portfolio investors at the end of December 2017 reached US$391.6 billion, equivalent to 87% of  foreign exchange reserves.”

The Taiwan Stock Exchange ended the week at 10,879.80, up 0.29% on the day and 0.97% on the week.

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