Taiwan’s central bank vows to defend currency

taiwan-cb
The Central Bank of the Republic of China (Taiwan)

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 said it was dragged down by the 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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