Taipei, Aug. 6 (CNA) Taiwan’s foreign trade reserves fell at the conclude of July from a thirty day period earlier, just after raising for the earlier 3 months, in accordance to the central bank.
The drop was owing to a much better U.S. dollar, which translated into a decrease in forex trading reserves when property denominated in particular non-U.S. greenback currencies were transformed into the U.S. dollar, the central financial institution explained.
In addition, changes in returns from the central bank’s portfolio administration were being also cited as a reason for the decrease in currency trading reserves as of very last month, it said.
Details compiled by the central bank confirmed Taiwan’s forex reserves totaled US$543.08 billion as of the conclude of July, down US$206 million from a month before.
Despite the tumble in July, Taiwan remained the fifth largest currency trading reserves holder in the globe, trailing China (US$3.21