Taiwan’s foreign exchange reserves have hit a record high of US$423.45 billion by the end of June. That’s up US$1.8 billion from the figure recorded at the end of May.
The central bank made the announcement on Friday. It said that at the same time, the value of Taiwanese stocks and bonds held by foreign investors stood at US$301.6 billion. That’s equivalent to 71% of the foreign reserves and also a record high.
The central bank attributed the growth to returns from foreign exchange reserves management and the appreciation of the euro and other currencies against the US dollar.
In comparison, South Korea held US$366.55 billion in foreign reserves at the end of June, an increase of US$5.63 billion from the previous month. China’s foreign reserves at the end of June amounted to US$3.95 trillion, while Japan’s reached US$1.28 trillion.