May 19, 2005
The value of Taiwan's foreign exchange reserves has climbed
USD 10.9 billion since the beginning of the year to a new record high of
USD 252.64 billion, according to Taiwan's Central Bank of China. The nation's reserves remain third largest behind its Asian neighbors Japan and China.
Taiwan's forex reserves rose
USD 1.5 billion from the end of March to the end of April.
The CBC attributes this rise to the flood of foreign currency flowing into Taiwan earlier this year as foreign investors speculated on the appreciating NT dollar, to forex investments, and to the appreciation of currencies such as the Japanese yen against the US dollar.
The CBC reports that, at the end of March, Japan's reserves stood at
USD 818.55 billion, while China's were
USD 659.14 billion. South Korea had the fourth largest forex reserves at
USD 205.55 billion at the end of March.
(United Daily News)
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