Best proof money can buy

The China Post
Date: May 6, 2017
By: Kuan-lin Liu, The China Post with CNA

TAIPEI, Taiwan — Bank of Taiwan (BOT), in response to a rumor that it was running

A Bank of Taiwan clerk stacks up 800 million Japanese yen on a bank counter to prove that the bank still had Japanese currency in stock, Friday, May 5. (CNA)

out of Japanese yen, lined up stacks of yen bills totaling 800 million on its counters to debunk the allegation on Friday.

Speculation that BOT was running out of the Japanese currency stemmed from the fact that on Thursday, the Japanese yen dipped to a new yearlong low in comparison to the New Taiwan dollar.

According to local media reports, local consumers rushed to take advantage of the depreciation and pick up the Japanese currency.

As early as the beginning of this week, BOT reported, its online platform “has been jammed by rising demand for the yen,” writes a local media source.   [FULL  STORY]

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