Reuters logo
Taiwan asks insurers to adjust forex hedging as local currency strengthens
April 14, 2017 / 2:10 AM / 5 months ago

Taiwan asks insurers to adjust forex hedging as local currency strengthens

TAIPEI, April 14 (Reuters) - Taiwan’s financial regulator has asked local insurers to adjust their foreign exchange hedging to reduce the impact of the strengthening local currency against the U.S. dollar on their earnings, according to a document from the regulator obtained by Reuters.

The request comes after the Taiwan dollar surged about 6 percent so far this year, making it one of the best-performing currencies in Asia.

Taiwan’s central bank, fearful of being labelled a currency manipulator by U.S. President Donald Trump, has pulled back on intervention to weaken the Taiwan dollar. (Reporting by Emily Chan; Writing by Faith Hung; Editing by Sam Holmes)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below