In its statement, the central bank said, 'the exchange rate of the
NT dollar is determined by a managed floating system, and therefore the government cannot control the
NT dollar exchange rate.'
11), inducing the
NT dollar to forego major appreciation in midsession and close slightly lower against the greenback, so as to sustain Taiwan's export competitiveness.
In the same month Taiwan's stock, bonds and
NT dollar deposits held by foreigners amounted to NT$216.1 billion (US$7.2 billion), accounting for 54% of the forex reserves.
pointed out that they will become profitless as long as the
NT dollar soars past the level of NT$29 for US$1, and will begin seeing loss escalate when the local currency rises above NT$28 against US$1.
In August the outstanding value of
NT dollar accounts held by foreigners slightly decreased by NT$6.3 billion (US$210 million) from the previous month to NT$219.1 billion (US$7.3 billion); and the outstanding term deposits increased by NT$116.5 billion (US$3.88 billion) to NT$21 trillion (US$700 billion).
is said to have seen its foreign exchange loss shrink to around NT$1 million (US$33,333) in the first half thanks to the devaluation of the
NT dollar. In the meantime, the company's pre-tax earnings were NT$25 million (US$833,333) and after-tax net income was NT$20 million (US$666,666), or NT$0.23 per share.
Meanwhile, thanks to the intervention of the CBC, the
NT dollar depreciated sharply yesterday, reversing steep appreciation in midsession.
18, 2012 (CENS) -- The Shanghai branch of the Bank of Taiwan was designated yesterday (September 17) as the clearance bank for the
NT dollar in mainland China.
dollars within half an hour before the end of the trading session, in an attempt to dampen the momentum for the appreciation of the
NT dollar.
dollar will weaken and the exchange rate of the
NT dollar may climb over US$1=NT$29.5 in midsession on Friday.
In August the outstanding value of
NT dollar accounts held by foreigners totaled NT$225.4 billion (US$7.51 billion) for a monthly rise of NT$21.1 billion (US$703.33 million).
To prevent Korea from gaining an edge in export quote via weak currency, the Central Bank of China (CBC) also allowed the
NT dollar to depreciate against the U.S.
