Central Bank intervened in market four times since May: reports

Taiwan News
Date: 2020/01/07
By: Matthew Strong, Taiwan News, Staff Writer\

TAIPEI (Taiwan News) — Taiwan’s foreign exchange reserves reached a total of US$478.12 billion last month, the seventh consecutive monthly record, according to data from the Central Bank.

The new figure was more than US$4 billion higher than the previous record high in November, the bank announced Monday (Jan. 6).

As reasons for the record performance, officials named the rise of the euro against the U.S. dollar, income from investments in foreign currency, and the Central Bank’s own involvement in the market, according to a report by the Liberty Times.

The newspaper noted that it was the fourth time since last May that the bank acknowledged it had involved itself in the foreign currency market.    [FULL  STORY]