Home Business Central Banks on the Watch List of Countries Subject to Exchange Rate Manipulation: my country has its own considerations and will remain stable | Anue 钜亨

Central Banks on the Watch List of Countries Subject to Exchange Rate Manipulation: my country has its own considerations and will remain stable | Anue 钜亨

by news dir

The United States released the latest exchange rate report and once again included Taiwan on the watch list of exchange rate manipulators. Taiwan’s Central Bank Vice President Yan Zongda Jin (17) stated in the Legislative Yuan’s inquiry that Taiwan has its own considerations, and the central bank will continue to maintain The exchange rate is stable.

Yan Zongda bluntly said that the United States released the exchange rate report to consider its own interests, but Taiwan also has its own considerations; he pointed out that the United States has controversial standards for evaluating exchange rate manipulators, and that it has been in constant communication with the U.S. Treasury Department and has repeatedly emphasized this argument. .

Yan Zongda further explained that Taiwan has been on this watch list three times, this time mainly because of the shift in the supply chain caused by the US-China trade war, and Taiwan’s trade surplus with the US exceeded the standard. In fact, more and more countries are also facing this. situation.

The U.S. Treasury Department included Switzerland and Vietnam on the watch list of exchange rate manipulators, while Taiwan, Thailand, and India were included on the watch list, as well as China, Japan, South Korea, Germany, Italy, Singapore and Malaysia, and Ireland. Be rejected.

According to the standards set by the U.S. Congress, exchange rate manipulators must meet three conditions: first, a trade surplus with the United States is at least 20 billion U.S. dollars; second, the current account surplus exceeds 3% of GDP; third, continuous intervention in the currency market, And the annual repeated purchases of overseas foreign exchange exceed 2% of GDP.

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Yan Zongda once again emphasized that domestic manufacturers will be affected by the appreciation of the New Taiwan Dollar. Maintaining the stability of the exchange rate is the main responsibility of the Central Bank. However, if the New Taiwan Dollar tends to appreciate for a long time, it will be an opportunity for the industry to think about upgrading.

The Taiwan dollar once again rose above the 28.2 yuan price in early trading, reaching a maximum of 28.116 yuan, which appreciated by as much as 3.6 cents. Recently, the closing price of the Taiwan dollar has broken the 28.5 yuan defense line. Whether it will break through the 28 yuan mark next, it remains to be the central supervisory supervisor in the afternoon Answer after the meeting.


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