Taiwan's forex reserves hit new high in November - Focus Taiwan

Taiwan's forex reserves hit new high in November

Taipei, Dec. 5 (CNA) Taiwan's foreign exchange reserves (forex) set a new high in November, hitting US$474.051 billion, the country's central bank reported Thursday.

That represents an increase of US$1.575 billion from the end of October, thanks to returns from the bank's management of forex reserves, said Harry Yen (顏輝煌), director-general of the bank's Department of Foreign Exchange.

In November, the value of Taiwanese stocks, bonds and deposits in Taiwan dollar terms held by foreign institutional investors totaled US$423.9 billion, accounting for 89.4 percent of Taiwan's total forex -- the highest ratio in nearly 20 months, the bank said.

That also represents an increase of US$7.1 billion from October, when it accounted for 88 percent of the country's total forex, it said.

The bank attributed the increase mainly to the rising stock market in Taiwan, which it said climbed 1.15 percent last month because of net buying by foreign investors.

In November, the value of foreign and Chinese capital channeled into Taiwan totaled US$2.949 billion, the third month that it registered a net inflow, the Financial Supervisory Commission (FSC) reported Thursday.

During the first 11 months of the year, inflows of aggregated foreign and Chinese capital reached US$12.049 billion, the FSC said.

Meanwhile, foreign and Chinese capital in Taiwan totaled US$209.574 billion as of Nov. 30, up US$2.948 billion from the end of October, according to the FSC.

(By Flor Wang and Liu Pei-cheng)

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