CONCERNS: The bank would act if it noticed currency speculation, the governor said, but he did not comment on a likely trajectory of the NT dollar against the greenback

Taipei Times
Date: Dec 03, 2020
By: Crystal Hsu / Staff reporter

The central bank would intervene in the market whenever necessary to help stabilize the New Taiwan dollar, central bank Governor Yang Chin-long (楊金龍) said yesterday, adding that it is concerned Taiwan might be placed on the US watchlist for currency manipulation.

The Control Yuan recently sent letter inquiring about the central bank’s market regulation efforts, Yang told a meeting of the legislature’s Finance Committee on the NT dollar’s appreciation and property price hikes.

“It is the central bank’s top responsibility to stabilize foreign exchanges,” he said.

The central bank has often stepped in toward the end of trading sessions to moderate the NT dollar’s appreciation against the US dollar.    [FULL  STORY]