Like just about everything else the Taiwan dollar has been smashed a lot lower against the surging US dollar.

Governor of The Central Bank of the Republic of China (Taiwan) has reiterated that the Bank will not adopt foreign exchange control measures and that its current foreign exchange management measures are enough to maintain financial market stability.

Earlier this week governor Yang Chin-long spoke in parliament and some of his comments appear to have been misunderstood, prompting this clarification from him today. Says the Bank will not adopt FX controls during his term in office.

I do wonder if such a firm public stance from a central bank governor is wise, it might be better to keep some options open. The TWD has really been pummelled:

twd 29 September 2022