Taiwan’s foreign exchange reserves hit record high in August
Sep 05, 2018CultureComments Off on Taiwan’s foreign exchange reserves hit record high in August
Taipei, Taiwan's foreign exchange (forex) reserves as of the end of August had hit a new high, largely on increased returns from the central bank's fund management, according to a press release issued by the bank Wednesday.
The central bank said that at the end of August, Taiwan had total forex reserves of US$459.88 billion, an increase of US$1.38 billion from a month earlier.
Lin Tsu-shun (???), deputy head of the central bank's foreign exchange department, said that at the end of August, the U.S. Dollar Index reached 95.14, which was a rise of 0.62 percent from the end of the previous month.
In August, the Taiwan dollar fell 0.38 percent against the U.S. dollar, while the Chinese yuan, Singapore dollar, the euro and the British pound also fell by 0.2, 0.45, 0.28 and 0.91 percent, respectively, Lin said, adding however that the Japanese yen climbed 0.54 percent.
Taiwan's forex reserves includes the euro, yen and yuan, but is largely dominated by the U.S. dollar, Lin noted.
Although a number of currencies have depreciated and their amounts reduced after being converted into U.S. dollars, the overall forex reserves have shown a net increase due to the increase in foreign exchange deposits, Lin explained.
Meanwhile, holdings of Taiwanese stocks, bonds and Taiwan dollar-denominated deposits by foreign investors stood at US$396.0 billion at the end of August, representing around 86 percent of the forex reserves, the central bank said.
Comments Off on Taipei-Taiwan’s Tourism Bureau is promoting mountain tourism at the 4-day Taipei International Travel Fair that began Friday.
The bureau is focusing on five north-south mountain ranges — the Central Mountain, Xueshan, Yushan, Alishan and the Coastal Mountain ranges — in its pavilion at the fair, said bureau Deputy Director-General Chang Shi-chung (???).
Chang said there will be various exhibitions and forums on the mountains of Taiwan, as well as its unique cultural features such as historic trails and aboriginal lifestyles.
Taiwan is preparing to market 2020 as the Year of Mountain Tourism, after its efforts to position the country as an important international mountaineering destination in July, when the government allowed public access to the island’s national parks.
Previously, people who wanted to visit restricted “ecological protected areas” in Taiwan’s national parks had to apply for permits from both the National Police Agency and the Construction and Planning Agency.
Now, however, the Construction and Planning Agency has launched a new mountain permit application portal that requires mountain visitors to apply for only one permit and provides fast-track processing to expedite applications, the bureau said.
Much of Taiwan is covered by mountains, and it has 268 mountains of over 3,000 meters, according to the Tourism Bureau website.
That environment has made hiking and mountain climbing one of the favorite pastimes of Taiwan residents.
The number of permits issued to Taiwanese citizens and foreign nationals for access to trails in Yushan, Taroko and Shei Pa national parks has risen from 153,736 in 2016 to 187,053 in 2017 and 201,526 in 2018, according to Construction and Planning Agency figures.
In 2018, foreign nationals accounted for 7.24 percent of the permits issued.
There will be around 1,700 booths from 60 countries at the fair, to be held Nov. 8-11 at the Taipei Nangang Exhibition Center.
The fair, the largest of its kind in Taiwan, will feature South Korean and Japanese tourism operators amid growing local interest in travel to those countries.
Source: Focus Taiwan News Channel