Central bank denies currency manipulation accusation

Focus Taiwan
Date: 2016/12/13
By: Chiu Po-sheng and Frances Huang

Taipei, Dec. 13 (CNA) The Central Bank of the Republic of China (Taiwan) rejected Tuesday an

CNA file photo

accusation by an international business wire that said Taiwan is closer than China to acting as a currency manipulator.

The central bank made the comments after a Bloomberg report said Taiwan is sitting on a large trade surplus by taking advantage of a devalued Taiwan dollar.

The central bank said that Taiwan’s trade surplus with the United States stood at only US$10 billion a year, far smaller than China’s US$300 billion.

Based on the far smaller trade surplus, the central bank contended that Taiwan is far less likely to become a currency manipulator than China.    [FULL  STORY]

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