By Chen Cheng-hui / Staff reporterThe nation’s foreign-exchange reserves hit a fresh high last month, the central bank reported yesterday. The reserves reached US$478.13 billion, an increase of US$4.08 billion from the previous month, due to the appreciation of the euro and other reserve currencies against the US dollar, as well as returns from the bank’s management of foreign-exchange reserves, the bank said in a statement. The reserves increased also because the bank intervened in the local foreign-exchange market to maintain market order, at a time when large and sudden capital inflows caused excessive volatility, it said. That represents an increase of US$31.1 billion from the end of November, when it accounted for 88 percent of the foreign-exchange reserves, bank data showed. The bank attributed the increase mainly to rising foreign fund inflows into local equities, the Central News Agency quoted Department of Foreign Exchange Director-General Harry Yen (顏輝煌) as saying yesterday.

Source: Taipei Times January 06, 2020 16:31 UTC