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MNI BRIEF: Taiwan FX Reserves Down In July

MNI (Beijing)

Taiwan’s foreign exchange reserves fell by USD1.56 billion in July to USD571.74 billion, the central bank said on Monday.

The fall was driven by changes in returns and movements from fx reserves and central bank measures to smooth volatile capital flows, a statement on the banks website said.

Taiwan’s exports would retain solid growth in H2 following the 9.1% increase y/y during the first five months of the year, driven by strong demand for AI and other emerging technology applications, the central bank said in its most recent monetary policy report.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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