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Taiwan says to keep "dynamic stability" in Taiwan dollar
December 10, 2012 / 8:48 AM / 5 years ago

Taiwan says to keep "dynamic stability" in Taiwan dollar

TAIPEI, Dec 10 (Reuters) - Taiwan’s central bank said it would maintain “dynamic stability” in the Taiwan dollar to ensure economic stability, after the bank intervened in the foreign exchange market last month.

Taiwan’s central bank joined its regional peers in curbing currency gains by telling some onshore banks that they could not square their USD/TWD offers in the market before checking with it first, traders told Reuters last month.

The Taiwan dollar has appreciated more than 4 percent against the U.S. dollar so far this year.

In a report due to be presented to parliament on Wednesday, the central bank also noted inflation was still picking up and relatively high, though it sees stability in core prices.

Taiwan’s consumer price index for November rose 1.59 percent compared to a year ago, below forecasts.

The central bank will hold its quarterly policy meeting to decide its discount rate on Dec. 19. The bank kept its discount rate unchanged at 1.875 percent at the previous meeting in September. (Reporting by Jeanny Kao; Editing by)

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