Foreign reserves down US$1.08bnBy Chen Cheng-hui / Staff reporterThe nation’s foreign exchange reserves last month decreased by US$1.08 billion to US$567.02 billion, the central bank said in a statement yesterday. Foreign exchange reserves have fallen for four consecutive months, as the net outflow of foreign capital offset returns from the bank’s management of reserve assets, data showed. Exchange rate shifts of other reserve currencies against the US dollar and the central bank stepping in to slow the local currency’s depreciation were also factors behind the decrease in foreign exchange reserves, the bank said. Foreign investors sold a net NT$138.89 billion (US$4.29 billion) of local shares last month after a net selling of NT$41.18 billion in March, the commission said. Overall, foreign investors net sold NT$70.21 billion of Taiwanese equities in the first four months of the year, the commission said.

Source: Taipei Times May 06, 2024 17:16 UTC