Taiwan central bank flags forex intervention if 'extreme' fluctuations
TAIPEI - Taiwan's central bank will intervene in the foreign exchange market if there are"extreme" fluctuations to maintain financial stability, its governor Yang Chin-long said on Wednesday.
Taking lawmakers' questions in parliament, Yang said the central bank will intervene in the forex market as needed if there are"extreme" fluctuations, as they seek to slow the Taiwan dollar's depreciation.The U.S. Treasury Department in June kept Taiwan on a monitoring list for close attention to foreign exchange and economic policies.
The central bank this week said it sold a net $880 million to intervene in the forex market in the first half of this year, stepping in to maintain smooth market operations as the island contends with soft economic growth. Yang said the current global interest rate cycle was nearing an end, and that Taiwan would be"no exception".We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Use standard writing style.
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