Reserve Money (July 2026)

For the month of July 2026, the daily average balance of reserve money was NT$7,547.3 billion, a decrease of NT$6.8 billion from the previous month. Of the components, currency in circulation decreased by NT$16.9 billion, while reserves deposited with the Bank increased by NT$10.1 billion.

For the sources of change in reserve money, there were a number of expansionary factors, including a net decrease in NCDs issued by the Bank, principal and interest payments on government bonds, repayment of Treasury bills, and the disbursement of various subsidies and centrally-allocated tax revenues. However, these effects were more than offset by contractionary factors such as tax remittances to the National Treasury and the issuance of government bonds. As a result, the daily average balance of reserve money decreased from the previous month.

The annual growth rate of the daily average balance of reserve money decreased by 0.65 percentage points from 7.63% in the previous month to 6.98%. For the first seven months of the year, the annual growth rate of the daily average balance of reserve money was 7.16%, higher than 5.88% in the same period last year.

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