Deposits Hit New High, Challenging Historical Record
According to 金管會 statistics, as of 2026年8月底, 國銀 foreign currency deposit balances reached 17兆518億元, a fresh record high. From 1至8月 this year, the cumulative increase was 1兆6,651億元, reaching 95% of the 2022 full-year record increase of 1兆7,584億元, only 933億元 short of the historical high. If net inflows continue over the next 4個月, a new record is highly likely.
Exchange Rate Distorts Book Value, US Dollar Basis Still Rising
The book increase in 8月 was only 1,068億元, up 0.6% month-on-month, a nearly 7個月 low, diverging from actual fund inflows, mainly because the US dollar depreciated about 1.9% against the New Taiwan dollar in the month, depressing the converted NT dollar amount. On a US dollar equivalent basis, the balance at 8月底 surged to 5,385億美元, up 137億美元 from 7月, the largest August increase on record.
Corporate Export Inflows Are the Main Driver
Corporate funds are the main driver of this wave of growth. With export demand for AI servers, semiconductors and others remaining strong, overseas revenues and payments from supply chains have flowed in, boosting banks' foreign currency deposits. The 金管會 noted that in addition to export payments, freight and merchanting trade service income, repatriated overseas investment funds, and corporate operational allocations have simultaneously lifted deposit levels. For foreign trade firms, retaining foreign currency funds to pay for raw materials, equipment and other cross-border payments remains a routine operational need.
玉山 Jumps to Third, Outlook Depends on FX Market
By bank ranking, the number of banks with foreign currency deposits exceeding 兆元 remained at 6家 at 8月底. 中國信託 ranked first with 1兆7,752億元, 兆豐銀行 second with 1兆4,473億元. 玉山銀行 rose to 1兆3,424億元, surpassing 台北富邦's 1兆3,017億元 to jump to No. 3. 台灣銀行 took 5th place with 1兆2,903億元, only 114億元 behind 台北富邦, while 第一銀行 ranked 6th with 1兆2,276億元. The market is watching whether the US rate hike in 9月 will drive domestic funds from NT dollar to US dollar time deposits. Banks generally believe the key lies in how the Taiwan-US interest rate spread evolves thereafter; if rates in both places adjust in tandem, a large-scale currency-switching wave may not occur. By contrast, export orders, corporate payment collections and cross-border fund allocations provide more direct support, allowing banks to increase funding needed for foreign currency lending and expand cross-border cash flow and wealth management services, though converted balances remain subject to exchange rate fluctuations, and whether the record can be broken depends on export momentum and year-end FX market trends.