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Yuan deposits at Taiwan banks reach 182.6 billion
Central News Agency
2014-01-15 11:21 PM
Taipei, Jan. 15 (CNA) Chinese currency deposits in Taiwan banks were at 182.6 billion yuan (US$30.2 billion) as of the end of December last year, according to data released Wednesday by the Central Bank of the Republic of China (Taiwan). As of the end of the year, 138.219 billion Chinese yuan had been deposited in 65 domestic banking units (DBUs) and 44.381 billion yuan in 57 offshore banking units (OBUs), the data showed. Taiwan's DBUs gained permission on Feb. 6 last year to carry out yuan-denominated transactions. Yuan deposits in DBUs has increased 14 fold since the end of February 2013, while such deposits in OBUs have more than doubled over the same period, according to the central bank's Department of Foreign Exchange. Higher savings rates offered by domestic lenders and market expectations of yuan appreciation have contributed to the increase in DBU yuan deposits, the central bank said. Meanwhile, total yuan remittances in December last year surpassed 100.454 billion yuan, a 41 percent increase from 59.217 billion yuan the previous month, according to the data. (By Kao Chao-fen and Christie Chen)
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