Taiwan's central bank has sent inspectors to domestic banks to investigate whether exporters are speculating in foreign currency as the Taiwan dollar soars against the U.S. dollar, three sources with direct knowledge of the matter told Reuters.
By Reuters Staff
2 Min Read
TAIPEI, Feb 3 (Reuters) - Taiwan’s central bank said on Wednesday that it plans to put restrictions on remittances from overseas loans taken out by companies, as it seeks to crack down on opportunities to speculate in the rapidly appreciating Taiwan dollar.
Sources told Reuters last month that the central bank had sent inspectors to domestic banks to investigate whether exporters were speculating in foreign currency using foreign loans as the Taiwan dollar soars against the U.S. dollar.
The central bank said that it was still looking at what those restrictions might be in terms of an actual figure and did not give a timeline for when the new rules might be applied.
Taiwan's central bank has sent inspectors to domestic banks to investigate whether exporters are speculating in foreign currency as the Taiwan dollar soars against the U.S. dollar, three sources with direct knowledge of the matter told Reuters.
By Reuters Staff
2 Min Read
TAIPEI, Jan 29 (Reuters) - Taiwan Economy Minister Wang Mei-hua will hold a virtual meeting with the United States next week to discuss supply chains, with semiconductor firms present, her ministry said on Friday, amid a global shortage of chips used by automakers.
Car factories around the world are shutting assembly lines because of the shortages, which in some cases have been exacerbated by the former U.S. administration’s actions against Chinese chip factories.
Taiwan, home to tech firms like Taiwan Semiconductor Manufacturing Co Ltd (TSMC) , the world’s largest contract chip maker, have become front and centre of efforts to resolve the shortage.