Taiwan Pledges Ongoing Dialogue with US Treasury on Forex Policies

Taiwan's central bank reaffirms commitment to continuous communication with the US Treasury regarding forex policies. Stay informed about the latest developments in international currency exchanges.

Jun 17, 2023 - 06:36
Jun 17, 2023 - 06:37
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Taiwan Pledges Ongoing Dialogue with US Treasury on Forex Policies
Taiwan Pledges Ongoing Dialogue with US Treasury on Forex Policies

In a statement issued on Saturday, Taiwan's central bank assured the public of its commitment to maintaining open and effective communication channels with the US Treasury Department regarding foreign exchange policies.

The announcement follows Taiwan's inclusion on the US monitoring list. On Friday, the US Treasury released its semi-annual currency report, indicating that no major trading partners had manipulated their currencies for export advantage.

 Consequently, it ended "enhanced analysis" for Switzerland after the country met only one of the three manipulation criteria. However, Switzerland remained on the "monitoring list" along with six other trading partners, including China, Taiwan, South Korea, Germany, Malaysia, and Singapore.

Taiwan's central bank responded by emphasizing the smoothness of its communication channels with the US Treasury and expressed its intention to continue engaging in dialogue on overall economic and exchange rate policies. The central bank emphasized the importance of maintaining a cooperative and constructive relationship between the two entities.

Also Read: US Dollar Strengthens as Federal Reserve Hints at Rate Hikes; Japanese Yen Weakened

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