• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Taiwan central bank says currency stable, flags more modest intervention

September 28, 2021 by David Barret Leave a Comment

September 28, 2021

TAIPEI (Reuters) – The Taiwan dollar’s exchange rate with the U.S. dollar has been stable this year without large fluctuations, Taiwan’s central bank said on Tuesday, adding it had intervened in the market this year but at a more modest rate than last year.

The strength of the currency has been a concern not only because it makes exports from the trade-dependent economy more dear but also because in December the U.S. Treasury added Taiwan to a “monitoring list” of countries whose currency practices have caused concern.

In a report to parliament ahead of governor Yang Chin-long taking questions from lawmakers on Thursday, the central bank said that in the first half of this year it bought a net $8.73 billion to intervene and “avoid serious disorder” in the currency market.

By comparison, the central bank purchased a net $39.1 billion for all of 2020.

It said the Taiwan dollar had so far appreciated around 2.8% since the end of last year which was “stable compared to other currencies’ exchange rates”.

Taiwan’s managed floating exchange rate system has served it well, with the currency fluctuating less than the Singapore dollar, Euro, Yen or South Korean Won, good both for Taiwan’s exporters, financial stability and economic growth, the bank added.

Taiwan is a small and open economy with a high reliance on trade, so it is necessary to maintain the currency’s “relative stability”, the bank said. Last week, the central bank revised up Taiwan’s economic growth outlook for the year.

(Reporting by Liang-sa Loh and Ben Blanchard; Editing by Simon Cameron-Moore)

Source Link Taiwan central bank says currency stable, flags more modest intervention

David Barret
David Barret

Related posts:

  1. Soccer-Poland say no racism in Glik’s bust-up with England’s Walker
  2. Epic Games to shut down Houseparty in October, including the video chat ‘Fortnite Mode’ feature
  3. UK’s slow growth and rising inflation gives BoE headache – PMIs
  4. Bank of England nudges up inflation outlook, split over QE widens

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • 42,000-Year-Old Yellow Crayon Suggests Neanderthals Created Art – And It’s Still Sharp Too
  • IFLScience Investigates The Loch Ness Monster: A Round-Up Of Our Spooky Season Nessie Deep Dive
  • Why An Eastern Pacific Tear In Earth’s Crust Could Spare The Pacific Northwest… Eventually
  • JWST Reveals Never-Before-Seen Details Of The Red Spider Nebula And It’s Spectacular
  • “Breaking Records By Extraordinary Margins”: 22 Of Earth’s 34 Vital Signs At Record Levels
  • “The Most Important Unsolved Problem In Pure Math”: Where Is Humanity At With Prime Numbers?
  • The “Great Halloween Solar Storms”: 22 Years Ago, One Of The Most Powerful CMEs Ever Hit Earth
  • IFLScience Investigates The Loch Ness Monster: A Documentary On The Science, The Story, And The Power Of Belief
  • Remarkably Preserved 23-Million-Year-Old “Frosty” Rhino Discovered In Canadian Arctic
  • Want To “Time Travel” Back To Your Childhood? Baby Filter Image Illusion Could Unlock Lost Memories
  • The Sun Is Giving Us A Spooky Grimace Just In Time For Halloween
  • Comet 3I/ATLAS Reaches Perihelion Today – “Alien Spaceship” Hypothesis To Be Tested Once And For All
  • Search For Shackleton’s “Lost” Ship Uncovered 1,000 Dimples On The Antarctic Seafloor – What Are They?
  • Your Banana Smoothie Might Be Kind Of Self-Defeating, Health-Wise
  • What Are Those Zigzags You See In Spiders’ Webs? Study Finds They Could Be A Kind Of Alarm System
  • The Deepest Fish Ever Filmed Was Found 8,336 Meters Below The Surface In A Vast Ocean Trench
  • Supersonic Flight Without The Boom: NASA’s X-59 Experimental Aircraft Takes Flight For First Time
  • The Oldest Ice Ever Recovered Contains Antarctic Air Bubbles From 6 Million Years Ago
  • Freaky “Frankenstein” Worms Can Get Reproduction Wrong And End Up With Two Heads
  • Hedgehog, Lasagna, and Brussels Sprouts: Meet 2025’s Newly Named North Atlantic Right Whales
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version