Gold’s Share of Taiwan Central Bank’s NT Dollar Issuance Reserves Tops 50% for First Time in Q1

Under Article 17 of the Central Bank of the Republic of China (Taiwan) Act, the central bank maintains a 100% reserve system requiring New Taiwan dollar issuance to be backed by an equivalent value of gold and foreign-exchange assets. The reserves are held by the Department of Issuing and audited by the Board of Supervisors to preserve confidence in the currency. Their composition fluctuates with market prices, and gold’s rise above 50% primarily reflected higher international gold prices rather than active central-bank purchases in the first quarter.

The central bank said on April 21, 2026, that required reserves against NT dollar issuance totaled NT$3.804151 trillion as of March 31. Its 410.24 metric tons of pure gold, valued at NT$4,683 per gram, were worth NT$1.921141 trillion and accounted for 50.5% of the reserves. That exceeded foreign-exchange holdings for the first time, with US$58.679 billion worth NT$1.883009 trillion, or 49.4%.