Taiwan urges Asian FX coordination for currency stability

MADRID, May 6 (Reuters) - Taiwan's central bank governor on Tuesday urged Asia to set up a regional exchange rate system to ensure currency stability.

"I would urge Asian countries to establish a formal regional exchange rate coordination mechanism as soon as possible to maintain the stability of Asian currencies," Fai-Nan Perng said during the Asian Development Bank's annual board meeting in Madrid, Spain.

(Reporting by Nick Edwards, Editing by Andrew Hay)