Taiwan’s central bank vows to defend currency

Taiwanese currency hits 28-month low against US dollar as US-China trade tensions worsen

taiwan-stock-exchange
Taiwan's central bank is ready to intervene to protect exchange rate of new Taiwan dollar

The Taiwanese central bank says it is ready to intervene to protect the exchange rate of the “new Taiwan dollar” (TWD) against the US dollar.

The Taiwanese currency dropped to a 28-month low against the US dollar in late May. Observers say it was dragged down by US-China trade tensions and slower domestic economy growth. To calm the market, the central bank said last week on its official Facebook account that it would step in, in case of a sudden sharp depreciation of the currency.

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