Taiwan rejects accusation of ‘backdoor currency manipulation’
Central bank says it ‘cannot and will not’ have upper limit for New Taiwan dollar
Taiwan’s central bank has rejected a suggestion by an economist with a US think-tank that it is manipulating the value of the island’s currency.
The Central Bank of the Republic of China (Taiwan) said on January 30 that it was committed to maintaining “dynamic stability” of the New Taiwan dollar, as per its stated exchange rate policy. “The bank cannot and will not pre-set a line of defence for New Taiwan dollar appreciation,” the statement said.
The statement came after Brad Setser of the US
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