Taiwan’s foreign exchange reserves last month shrank US$1.15 billion to US$547.81 billion, the second-lowest level this year as foreign capital continued to flow outward in search of better yields, the central bank said yesterday.
The latest balance put an end to two consecutive months of gains, and came after foreign portfolio managers raised stakes in local shares while wiring about US$8 billion to US$9 billion of cash dividends and investment gains abroad, Department of Foreign Exchange Director-General Eugene Tsai (蔡炯民) told an online news conference in Taipei.
The volume of capital outflow is the highest in four months, consistent with the US