Taiwan’s foreign exchange reserves last month totaled US$544.9 billion, rising US$1.32 billion from August to a record for the second straight month, the central bank said yesterday, crediting foreign-exchange management.
Department of Foreign Exchange Director-General Eugene Tsai (蔡炯民) said that the US dollar gained 1.73 percent last month, allowing the bank’s investment gains to more than absorb unfavorable exchange twists.
A US Federal Reserve plan to taper its bond purchasing program, with some Fed members suggesting a full exit by March next year, has lent support to US government bonds, as shown by an upswing in 10-year bond yields, Tsai said.
The trend