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Taiwan Remains 4th Largest Holder of Foreign Reserves in July

August 6, 2011

Taiwan’s foreign exchange reserves increased to US$400.77 billion as of July 31, remaining the fourth highest of any country in the world, Taiwan’s central bank said Friday.
The July figure, which was US$440 million higher than at the end of June, was surpassed only by the holdings of China, Japan and Russia the Central Bank of the Republic of China (Taiwan) said.
The moderate growth of reserves in July resulted mainly from returns on reserve assets. But those returns were partially offset by euro’s depreciation against the greenback, said Lin Sun-yuan, director general of the bank’s Department of Foreign Exchange.
In July, the euro fell 1.16 percent against U.S. dollar, according to central bank figures.
China continued to lead the world with US$3.2 trillion in foreign exchange reserves as of the end of June, while Japan held US$1.07 trillion in reserves as of July 31, and Russia had US$471.9 billion as of the end of June.
In Asia, the foreign exchange reserves of South Korea increased US$5 billion to US$303.9 billion at the end of July from the previous month.
Singapore’s reserves reached US$241.4 billion at the end of June, and Hong Kong’s stood at US$266.2 billion.
India gained US$7.4 billion in foreign reserves in July to bring the value of its holdings to US$284.5 billion.


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