Taiwan’s Central Bank, the Central Bank of the Republic of China, dipping into its USD holdings to fund this.
- Sold net USD 880mn to intervene in FX market in H1
- Sold net USD 5.63bln from July 2022 to June 2023
- Says the operations were aimed at smoothing FX volatility
This article was written by Eamonn Sheridan at www.forexlive.com. Source