About NT$111.6 billion in currency losses was reported by Taiwanese insurers in the first seven months this year
Taiwan News
Date: 2017/09/28
By: Sophia Yang, Taiwan News, Staff Reporter
TAIPEI (Taiwan News) – Approximately NT$111.6 billion in currency losses was
TAIFEX chairman Liu Len-yu (second from right) posed with the Financial Supervisory Commission Vice Chairman Huang Tien-mu (center) and guest speakers
reported by Taiwanese insurers in the first seven months this year due to heavy U.S. dollar positions. Taiwan’s financial regulator and experts have urged local insurers to hedge currency risk to reduce the impact of the fall of the U.S. Dollar on investments.
On Thursday, the Taiwan Futures Exchange (TAIFEX) co-hosted a forum in cooperation with the Taiwan Insurance Guaranty Fund to help insurers utilize a set of local diversified hedging tools to mitigate the risk.
Recently named as the best Exchange in Asia by FOW and Global Investor reportedly for its diversified forex options, Taiwan derivatives market the TAIFEX continues rolling out innovative currency products, with Australian Dollar and British Pound options coming up in the first half of 2018. TAIFEX Chairman Liu Len-yu (劉連煜) said that the tools can be used to retain earnings and minimize risk, and have been proved successful to reach that end. [FULL STORY]