March 2, 2017 / 1:52 AM / 5 months ago

Taiwan cbank governor says stronger currency is due to foreign fund inflows

1 Min Read

TAIPEI, March 2 (Reuters) - Taiwan's central bank governor said on Thursday the recent strong rally of the local currency is due to massive foreign fund inflows.

"There has been $3 billion of foreign fund inflows to Taiwan since the start of this year," governor Perng Fai-nan told a parliament session. "Taiwan companies' stock dividend is good."

He declined to comment when asked whether the stronger local currency has to do with the central bank's fear of being labelled a currency manipulator by U.S. President Donald Trump.

The Taiwan dollar has risen about 5 percent so far this year, make it one of Asia's best-performing currencies against the U.S. dollar.

Reporting by Faith Hung; Editing by Randy Fabi

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