News
NT dollar hits seven year low
05 October, 2023
The New Taiwan dollar has seen a significant decline, today weakening to between 32.3 and 32.4 to the dollar, its weakest level in over seven years.
This comes amidst a strong U.S. dollar and massive foreign capital outflows. Central bank governor Yang Jin-long (楊金龍) emphasized that while the bank hopes for a stable exchange rate, it doesn't set a specific limit or range for the currency.
However, if the market faces extreme fluctuations or panic, the central bank will step in.
Yang also highlighted that many global currencies are facing a similar downtrend and stressed the importance of considering long-term trends in addition to short-term rates.
Go Top