Business News
Taiwan foreign exchange reserves rise to 341 billion US dollars
Nov 5, 2009, 12:24 GMT
Taipei - Taiwan's foreign exchange reserves hit 341.2 billion US dollars at the end of October, up 8.98 billion US dollars from September, the central bank said Thursday.
The central bank attributed the increase to the appreciation of the euro, British pound and other major currencies against the US dollar. As a result, Taiwan's foreign exchange reserves denominated in these currencies were worth more in terms of the base currency, the greenback.
The other reason for the increase was returns from the management of Taiwan's foreign exchange reserves, the central bank said.
In recent months, Taiwan's foreign exchange reserves have been the world's fourth-largest after those of China, Japan and Russia.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
