Taiwan's forex reserves robust

Taiwan's foreign-exchange reserves stood at US$88.07 billion at the end of last month, the highest since August last year, the central bank said yesterday. Foreign reserves rose $1.51 billion last month from October. The monthly increase from October was largely due to the central bank's purchase of US units as the local currency began to strengthen, a bank official said. The appreciation of the Taiwan dollar also sparked selling of US positions by exporters and commercial banks in Taiwan, which helped boost bank reserves, the Central News Agency said.