Taiwan sits on record-high forex reserves in November

Taipei, Dec. 4 (CNA) Taiwan recorded a foreign exchange reserve of US$347.19 billion as of the end of November, up US$5.968 billion from the previous month, the Taipei-based Central Bank of the Republic of China reported Friday. The bank attributed the increase of forex reserves growth last month to the strong appreciation of major currencies, such as the euro and Japanese yen, against the U.S. dollar, apart from returns from foreign exchange reserve management.

The amount of reserves Taiwan held ranked the country as the world's fourth-largest forex holder in November, after China, Japan and Russia, the bank said.