Latest news with #TaiwanCentralBank
Yahoo
3 days ago
- Business
- Yahoo
US debt is 'sound', no concerns about US dollar's reserve role, Taiwan's central bank says
TAIPEI (Reuters) -Taiwan's central bank said on Sunday that U.S. government debt is "sound" and still favoured by investors, and there are no worries about the U.S. dollar's position as the leading international reserve currency. U.S. President Donald Trump's tariff announcement on April 2, which led to a market rout, including in U.S. Treasuries, has cast doubt over the dollar's safe-haven status. Trump's has made complaints about a strong dollar which have also triggered speculation that Washington wants an adjustment lower in the U.S. currency. Taiwan's $582.8 billion in foreign exchange reserves are more than 80% made up of U.S. Treasury bonds, according to the island's central bank. The central bank, responding to what it said were market concerns about U.S. bonds and the U.S. dollar, said on its website there was no cause for alarm. "There are still no concerns about the U.S. dollar's position as the leading international reserve currency," it said. "U.S. public debt is stable and has good liquidity, and its function as a store of value is still favoured by investors." The central bank also called on the media and market commentators not to speculate about the foreign exchange rate, given the Taiwan dollar's surge since last month against the U.S. currency on speculation Washington had asked Taipei to let it strengthen as part of tariff talks. The central bank has repeatedly denied that the United States has made that request. In its Sunday statement, the central bank said its inspection teams had found that some foreign investors, whom it did not name, had transferred large sums into Taiwan dollar deposit accounts ostensibly to invest in Taiwan stocks. But no such investments took place, it said, adding foreign investors must use remitted funds to invest in domestic securities if that is what they have declared the money for "and not use the funds to speculate on the Taiwan dollar's exchange rate".
CNA
3 days ago
- Business
- CNA
US debt is 'sound', no concerns about US dollar's reserve role, Taiwan's central bank says
TAIPEI :Taiwan's central bank said on Sunday that U.S. government debt is "sound" and still favoured by investors, and there are no worries about the U.S. dollar's position as the leading international reserve currency. U.S. President Donald Trump's tariff announcement on April 2, which led to a market rout, including in U.S. Treasuries, has cast doubt over the dollar's safe-haven status. Trump's has made complaints about a strong dollar which have also triggered speculation that Washington wants an adjustment lower in the U.S. currency. Taiwan's $582.8 billion in foreign exchange reserves are more than 80 per cent made up of U.S. Treasury bonds, according to the island's central bank. The central bank, responding to what it said were market concerns about U.S. bonds and the U.S. dollar, said on its website there was no cause for alarm. "There are still no concerns about the U.S. dollar's position as the leading international reserve currency," it said. "U.S. public debt is stable and has good liquidity, and its function as a store of value is still favoured by investors." The central bank also called on the media and market commentators not to speculate about the foreign exchange rate, given the Taiwan dollar's surge since last month against the U.S. currency on speculation Washington had asked Taipei to let it strengthen as part of tariff talks. The central bank has repeatedly denied that the United States has made that request. In its Sunday statement, the central bank said its inspection teams had found that some foreign investors, whom it did not name, had transferred large sums into Taiwan dollar deposit accounts ostensibly to invest in Taiwan stocks. But no such investments took place, it said, adding foreign investors must use remitted funds to invest in domestic securities if that is what they have declared the money for "and not use the funds to speculate on the Taiwan dollar's exchange rate".
Yahoo
3 days ago
- Business
- Yahoo
US debt is 'sound', no concerns about US dollar's reserve role, Taiwan's central bank says
TAIPEI (Reuters) -Taiwan's central bank said on Sunday that U.S. government debt is "sound" and still favoured by investors, and there are no worries about the U.S. dollar's position as the leading international reserve currency. U.S. President Donald Trump's tariff announcement on April 2, which led to a market rout, including in U.S. Treasuries, has cast doubt over the dollar's safe-haven status. Trump's has made complaints about a strong dollar which have also triggered speculation that Washington wants an adjustment lower in the U.S. currency. Taiwan's $582.8 billion in foreign exchange reserves are more than 80% made up of U.S. Treasury bonds, according to the island's central bank. The central bank, responding to what it said were market concerns about U.S. bonds and the U.S. dollar, said on its website there was no cause for alarm. "There are still no concerns about the U.S. dollar's position as the leading international reserve currency," it said. "U.S. public debt is stable and has good liquidity, and its function as a store of value is still favoured by investors." The central bank also called on the media and market commentators not to speculate about the foreign exchange rate, given the Taiwan dollar's surge since last month against the U.S. currency on speculation Washington had asked Taipei to let it strengthen as part of tariff talks. The central bank has repeatedly denied that the United States has made that request. In its Sunday statement, the central bank said its inspection teams had found that some foreign investors, whom it did not name, had transferred large sums into Taiwan dollar deposit accounts ostensibly to invest in Taiwan stocks. But no such investments took place, it said, adding foreign investors must use remitted funds to invest in domestic securities if that is what they have declared the money for "and not use the funds to speculate on the Taiwan dollar's exchange rate". Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
09-05-2025
- Business
- Reuters
After currency turmoil, Taiwan's central bank warns banks to follow forex rules
TAIPEI, May 9 (Reuters) - Taiwan's central bank said on Friday that banks should follow foreign exchange settlement rules, after the Taiwan dollar notably strengthened last week and earlier this week. The Taiwan dollar on Monday and last Friday appreciated strongly against the greenback on market speculation that the U.S. had asked Taiwan to allow its currency to appreciate as part of tariff talks. Both the central bank and Taiwan President Lai Ching-te denied that the Taiwan dollar was part of talks with the United States, and the currency has since steadied. In a statement on its website, the central bank said that it urged banks to "fulfil their guidance duties" for their customers when it came to accepting foreign exchange settlements. When accepting large-value Taiwan dollar settlement transactions, banks should confirm that the relevant supporting documents are consistent with the "declared nature of the transaction", it added. For handling Taiwan dollar forward exchange transactions, banks should check the "reasonableness, relevance, and practicality of the transaction documents and financial flows at the time of contracting", the central bank said. It added that it had recently conducted on-site inspections at banks which revealed that some companies or individuals had remitted funds in the name of foreign loans for settlement in Taiwan dollars, but there was "no actual use of the funds in Taiwan dollars". It did not name the banks it had inspected. Taiwan's central bank has a mandate for the currency's stability, and generally does intervene as needed to ensure its movements either way are not excessive.
Bloomberg
08-05-2025
- Business
- Bloomberg
Taiwan Doesn't Expect to Be Named Currency Manipulator by US
Taiwan's central bank governor dismissed the possibility of being labeled a currency manipulator by the US Treasury. 'I'm confident that Taiwan will not be labeled as a currency manipulator,' Yang Chin-long, governor of Taiwan's central bank, said when reporting to lawmakers on Thursday. He also reiterated that the US did not pressure Taiwan to appreciate its currency.
