Focus Taiwan
Date: 2017/12/11
By: Chiu Po-sheng and Frances Huang 

Taipei, Dec. 11 (CNA) Taiwan’s central bank on Monday rejected a Bloomberg report that accused the bank of engaging in foreign exchange manipulation to keep the Taiwan dollar cheaper than other regional currencies.

Yang Chin-long (楊金龍), deputy governor of Taiwan’s central bank, said the value of the Taiwan dollar is determined by a market mechanism, and he denied that the bank has stepped up intervention to manipulate the currency’s value.

Speaking at a news conference, Yang said the central bank only steps in to maintain market order and stabilize financial markets when there is abnormal volatility due to large inflows or outflows of funds..    [FULL  STORY]