Central Bank of China

PRESS RELEASE Release Date: June 5, 2003




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FOREIGN EXCHANGE RESERVES AS OF

MAY, 2003


The Foreign Exchange Reserves of the Republic of China amounted to US$175.23 billion at the end of May 2003, showing an increase of US$ 4,594 million from the figure recorded at the end of last month and an increase of US$ 13,573 million compared to the end of last year.

Reasons of foreign exchange reserves increased during May 2003 are:

Firstly, the Euro, British pound, Japanese yen and Swiss franc all appreciated against the US dollar. Foreign exchange reserves denominated in these currencies were worth more in terms of the base currency, the US dollar.

Secondly, return from investment was another important source of increase.



Note: The next dissemination will be made at 16:20 p.m. on July 4, 2003;

advance release calendar can be accessed on our website at: http://www.cbc.gov.tw/EngHome/ESDDS/calacal.asp