UNFAVORABLE FOR EXPORTERS: While non-tech firms ‘take a hard hit,’ high-tech companies remain unmarked in their international sales, the central bank governor said
Date: Oct 16, 2020
By: Crystal Hsu / Staff reporter
Asked by lawmakers whether the NT dollar’s fast appreciation would erode exporters’ profitability, Yang said that strong exports would bolster current-account surpluses and demand for the local currency.
“It might become the new normal for the NT dollar to trade above the NT$29 notch against the greenback given Taiwan’s strong exports and the weakening US currency,” Yang said, but declined to comment on potential developments beyond the six-to-twelve-month time frame, saying it would be risky and inappropriate.
The NT dollar rose 1.38 percent against the US dollar last month. [FULL STORY]