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Taiwan's Foreign Currency Deposits Hit New High of NT$1.52 Trillion as of January.
(From Taiwan Economic News)
Taipei, March 2, 2006 (CENS)--Despite the appreciation of the New Taiwan dollar, Taiwan's outstanding foreign currency deposits hit a record high of NT$1.5194 trillion (US$44.69 billion at US$1 = NT$34) at the end of January, up NT$11.9 billion (US$350 million) from a month earlier, according to statistics released by Central Bank of China (CBC) here
Insiders indicated that the rise in foreign currency deposits was due mainly to banks here actively promoting wealth management services and encouraging their clients to place deposits in foreign currencies with higher interest rates, including the Australian dollar and the New …
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