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Taiwan Reports $99 Billion in Currency Swaps, in Rare Disclosure

A passenger looks out at the Taipei 101 building, left, and other commercial and residential buildings from a Mass Rapid Transit (MRT) train, operated by Taipei Rapid Transit Corp., as it travels along an elevated track in Taipei, Taiwan.

Taiwan’s central bank disclosed its outstanding position in foreign-exchange swap trading, a rare move aimed at answering calls for improved transparency.

The bank’s outstanding position in foreign-exchange swap trading was $99.1 billion at the end of February, the central bank’s Governor Yang Chin-long wrote in a report prepared for legislators. The central bank purchased a net $5.5 billion in the spot currency market in 2019 to maintain market order, the report said. That compares with no net purchases for 2018, according to last year’s report, which omitted data on swaps positions.