Taiwan says currency surge unrelated to trade talks with US
Rumours of “Mar-a-Lago accord” causing NT$ appreciation are “false”, central bank says
Taiwan’s central bank has said the US has not put it under pressure to raise the exchange rate, after the local currency surged against the dollar over the past week.
In a statement on May 5, the Central Bank of the Republic of China (Taiwan) said the US Treasury department had not asked for the currency to appreciate as parts of trade negotiations.
The New Taiwan dollar reached as high as NT$28.87 against the US dollar on May 5. This represented a surge of around 6% compared with May 3 and the
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