Central bank to communicate with U.S. after forex report

Focus Taiwan
Date: 01/14/2020
By: Wu Po-wei, Pan Tzu-yu and Frances Huang

Taipei, Jan. 14 (CNA) Taiwan's central bank said Tuesday that it will continue to communicate with the United States authorities after the latest foreign exchange report released by the U.S. Department of the Treasury a day earlier indicates Taiwan is close to the threshold of being placed on the currency monitoring list.

The central bank said Taiwan and the United States have already established a communications channel to ensure the U.S. side has a better understanding of Taipei's foreign exchange market.

In the latest semiannual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States, Taiwan stayed off the U.S. currency monitoring list, but the U.S. Treasury report said Taipei is "close to triggering key thresholds" to be put on the list.

Taiwan was removed from the currency monitoring list in October 2017, which the central bank attributed to its efforts to reduce intervention in currency markets.    [FULL  STORY]

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