FX.co ★ Taiwan Forex Reserves Hit New Record in June

Taiwan's foreign exchange reserves reached an all-time high of USD 598.43 billion in June, up from USD 592.95 billion in May. This rise was attributed to returns from effective management of foreign exchange reserves and fluctuations in exchange rates between other reserve currencies and the USD. Furthermore, the central bank intervened to stabilize erratic capital flows, ensuring a stable foreign exchange market. To put this in context, the reserves amounted to USD 573.3 billion in June 2024.