Taiwan's foreign exchange reserves hit record high in August

Taiwan's foreign exchange reserves hit record high in August Taipei  - Taiwan's foreign exchange reserves rose to a record high in August on exchange rate and other gains, the Central Bank said Friday.

"Our foreign exchange reserves stood at 325.417 billion US dollars as of the end of August, up 4.323 billion dollars from the end of July," the bank said in a press statement.

It said the increase - the biggest in history - was mainly due to exchange rate gains through the appreciation of the euro, Japanese yen and other major currencies against the US dollar as well as investment returns. It did not identify the kinds of investments.

As of the end of August, Taiwan was the fourth-largest foreign exchange reserve holder in the world after China, Japan and Russia. (dpa)