With both economies becoming more independent, China has allowed since early last year up to five cities in Fujian Province to provide New Taiwan dollar
Yang expressed his confidence in New Taiwan Dollar
(NTD) thanks to the country's persistent large current account surplus from 2008, healthy balance of payments, significant amount of Forex reserves of around US$459.9 billion, and its low level of external debt of US$0.1 billion.
With the New Taiwan dollar
suddenly rising to NT$29.3 from NT$29.7 against the greenback, TAMI strongly urges the Central Bank to curb the appreciation, which has weighed on local exporters and is very likely to undermine Taiwan's economic growth, given the fact that exports contribute 66%-70% to the island's GDP annually.
Global Banking News-September 18, 2012--Bank of Taiwan selected as clearing agent for Taiwan dollar
in China(C)2012 ENPublishing - http://www.enpublishing.co.uk
Exchange rate concerns are battering the stocks of local exporters as the New Taiwan dollar
, which earlier this week hit a 13-month high, continues to gain against the greenback.
Yeung spoke about the direct currency conversion problem for the New Taiwan Dollar
, and suggested this could be an area for creative improvement.
The group's hedging cost -the spread between the interest rate of the New Taiwan dollar
and a basket of other currencies - in the first-quarter was slightly higher than the 90 basis points recorded in the fourth quarter of 2011.
dollar on Tuesday, with the Singapore dollar and the New Taiwan dollar
hitting new lows on weak economic data.
Sun, who is also revered in China, is currently featured on 50-New Taiwan dollar
and 100-dollar notes, while Chiang is found on the 500-dollar and 1,000-dollar notes.
According to the United Airlines website, you can now select Taiwan as a location according to its currency, the New Taiwan Dollar