The Central Bank of Taiwan published its March 2026 reserve money figures, showing the daily average reserve money declined by TWD 92.1bn from the prior month to TWD 7,535.9bn. The annual growth rate of daily average reserve money eased to 7.10%, down 0.47 percentage points from the previous month. By component, currency in circulation decreased by TWD 191.7bn while reserves deposited with the Bank increased by TWD 99.6bn. Expansionary drivers included principal and interest payments on government bonds, repayment of government debt, disbursement of subsidies and centrally funded tax revenues, and a net decrease in NCDs issued by the Bank, but these were more than offset by contractionary factors including tax remittances to the Treasury, government borrowings, and the issuance of government bonds and Treasury bills. For the first three months of the year, the annual growth rate of daily average reserve money was 6.32%, compared with 6.43% in the same period last year. The next reserve money release covering April 2026 is scheduled for 16:20 on May 11, 2026.
Central Bank of Taiwan 2026-04-10
Central Bank of Taiwan reports March 2026 reserve money fell to TWD 7,535.9bn and annual growth slowed to 7.10%
The Central Bank of Taiwan reported that daily average reserve money fell by TWD 92.1bn in March 2026 to TWD 7,535.9bn, with the annual growth rate easing to 7.10%. Currency in circulation declined by TWD 191.7bn while reserves deposited with the Bank rose by TWD 99.6bn, as expansionary factors such as government bond-related payments and subsidy disbursements were more than offset by tax remittances, government borrowings, and new government securities issuance.