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Yuan-denominated currency deposits climb to record high

TAIPEI, Taiwan -- The Chinese yuan-denominated deposits in Offshore Banking Units (OBU) and Domestic Banking Units (DBU) have reached a new record high at over 247 billion yuan (US$40.16 billion), the Central Bank of the Republic of China (Taiwan) announced yesterday.

According to the central bank, up to the end of this February, there are 67 foreign exchange banks that handle Chinese yuan-denominated deposits, which reached over 192 billion.

The central bank also said that the amount of Chinese yuan-denominated deposits kept in the 57 OBU branches surpassed 54 billion yuan.

In the categories of loans and discounts, the remaining amount in February for DBUs is 910 million yuan, which is also a record high, according to the central bank.

The remaining amount in February for OBUs was about 13.2 billion yuan, the central bank said, which brought the total amount of loans and discounts to 14.2 billion yuan.

As for the remittance category, the central bank said that the amount of Chinese yuan-denominated remittance being made in DBUs in February was 41 billion yuan, while the amount of remittance being made in yuan was 29.6 billion in OBUs in February.

According to the central bank, yuan-denominated deposits in Taiwan's banking system totaled 182.6 billion yuan as of the end of 2013.

Yuan deposits in domestic banking units amounted to 138.22 billion yuan last year, and in offshore banking units (44.38 billion yuan), the central bank said.

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