Reserve Money (April 2026)

For the month of April 2026, the daily average reserve money was NT$7,547.0 billion, an increase of NT$11.1 billion from the previous month. Of the components, currency in circulation decreased by NT$92.3 billion, whereas reserves deposited with the Bank increased by NT$103.4 billion.

For the sources of change in reserve money, April saw contractionary factors such as tax remittances to the Treasury, government borrowings, the issuance of government bonds and Treasury bills, as well as a net increase in NCDs issued by the Bank. However, these effects were more than offset by expansionary factors, including interest payments on government bonds, repayment of government debt, and the disbursement of various subsidies and centrally-funded tax revenues. As a result, the daily average level of reserve money increased compared with the previous month.

The annual growth rate of the daily average reserve money increased by 0.68 percentage points from 7.10% of the previous month to 7.78%. For the first four months of the year, the annual growth rate of daily average reserve money was 6.68%, higher than 6.20% in the same period last year.

Note: The next Reserve Money (May 2026) is scheduled for release at 16:20 on June 11, 2026.