Economy

Taiwan Central Bank Downplays Concerns Over Weaker New Taiwan Dollar

Published
Updated

By Justin Wu/Ted Chen

Open in App

Taiwan’s Central Bank Governor Yang Chin-long says the New Taiwan dollar should be allowed to move naturally, but not fluctuate excessively, as concerns grow over the currency’s recent weakness. Speaking to lawmakers, Yang attributed the decline mainly to foreign investors selling Taiwan technology stocks and taking profits overseas. The New Taiwan dollar has fallen 3.23 percent against the US dollar this year. Yang says the central bank would step in if exchange rate movements became too large. He also says inflationary pressure from the AI boom remains limited, contributing around 1.6% to consumer prices rises.