Taiwan's Currency Soars, Central Bank Responds Amid Speculation
Central Bank Denies External Pressure as New Taiwan Dollar Experiences Significant Appreciation.
Amidst recent reports suggesting pressure from the United States for the New Taiwan Dollar (NTD) to appreciate, and specific target exchange rates being mentioned, Taiwan's Central Bank issued a statement late today to refute the claims, deeming them inaccurate.
Market analysts interpret the Central Bank's decisive rebuttal as a direct response to intensifying expectations of NTD appreciation. The NTD has seen a four-day consecutive rise, briefly breaching the 32 mark and reaching 31 territory on Wednesday. This rapid appreciation has reportedly impacted both exporters and life insurance companies.
The Central Bank's quick response, occurring before the market opened on Friday, signals its commitment to maintaining stability amid the ongoing volatility.
Other Versions
Taiwan's Currency Soar, Central Bank Responds Amid Speculation
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