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In the evening, the central bank responded to the top nine associations with four images on its Facebook page. Only one of the exchange rates of the New Taiwan Dollar failed to go up and down. (Photo by reporter Chen Meiying)
The central bank said that Taiwan’s export growth rate for 2019 and January-October 2020 was -1.5% and 3.4%, which were significantly better than other Asian economies. Taiwan has appreciated 4.52% this year (through November 23). The 6.7% appreciation is not reflected in the top 9 guilds in the 12-15% two-year appreciation Compared to other Asian currencies, the exchange rate of the New Taiwan dollar is not too strong.
The central bank emphasized that although most of China’s traditional industry exports have experienced negative growth last year and this year, electronic components and video and information communication products have performed well, which has increased exports in general. Mainly reflects the overall performance of Taiwan’s exports The central bank said that there is only one exchange rate for the new Taiwan dollar, which cannot rise and fall at the same time.
The central bank said that the central bank has always made every effort to maintain the dynamic stability of the exchange rate of the New Taiwan dollar to facilitate the quotations and external operations of manufacturers. For a long time, the average exchange rate volatility of the New Taiwan dollar against the US dollar has been lower than that of the Korean won, the Japanese yen, the euro, and the Singapore dollar.
Taiwan’s exports topped US $ 30 billion for two consecutive months, repeatedly setting new highs. In addition to the demand for foreign exchange from exporters and foreign resale in purchases, the purchase of more than 157.7 billion NT dollars since November, the amount of remittances is even more impressive and the pressure of the appreciation of NT Sin However, the central bank has resorted to full defense and an unlimited supply of US dollars. The exchange rate of the New Taiwan dollar against the US dollar has not exceeded 28.5 yuan at its intraday high for two consecutive weeks. .
The central bank has just sent an open letter to Kobashi, president of the Taiwan Machinery Association, asking the industry not to depend on the depreciation of the Taiwan dollar, but to develop new products and increase the added value of products, and take advantage of opportunities to improve the industry to continue to improve competitiveness.
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