Taiwan's Forex Reserves End 4th Consecutive Monthly Rise to Edge Down to US$415.559B in November

Taiwan's foreign exchange reserves inched down US$42 million from a month earlier to US$415.559 billion in November, ending the fourth consecutive monthly rise and remaining the world's fourth largest holder of forex reserves, according to the central bank.

A central bank official indicates that the drop in forex reserves was due mainly to the depreciation of euro and Japanese yen against the U.S. dollar, with the former devaluing 0.68% and the latter  3.81%.

In the same month Taiwan witnessed a minimal inflow of US$61 million in foreign funds and a massive overselling of US$700 million or abut NT$21.2 billion in the stock market here by foreign investors.

At the end of November, Taiwan's stock, bonds and NT-dollar deposits held by foreigners fell a monthly  US$3.9 billion to US$247.5 billion, accounting for 60% of the total forex reserves. (JL)