March 18, 2005
Taiwan's central bank reports that the nation's foreign exchange reserves rose
USD 3.844 billion from the end of January to a new high of
USD 246.628 billion at the end of February.
The central bank attributes this growth in Taiwan's foreign currency reserves to the inward remittance of funds by foreign stock market investors, revenues from investments using forex reserve funds and the appreciation of the euro and other foreign currencies against the US dollar.
Since Taiwan's forex reserves are calculated in US dollars, the value the foreign currencies held by Taiwan gain on the US dollar becomes reflected as an increase in the US dollar value of Taiwan's reserves.
Taiwan's forex reserves remain third largest in the world behind those of Japan and China.
(Central News Agency)
E-mail this page.
Invest in Taiwan
