Central Bank Governor Yang Chin-long's Awkward Response to NTD Appreciation Sparks Controversy
The New Taiwan Dollar has been appreciating significantly lately, prompting a rush of citizens to exchange currency via online banking. On May 5, Central Bank Governor Yang Chin-long addressed this issue at a press conference, but when asked why the exchange rate was allowed to float and cause the NTD to appreciate, his response was hesitant and unclear. This led the Facebook page 'Politician Cool' to mock that Yang's performance resembled 'the art of not being understood.'
Yang stated, 'We have always emphasized that the foreign exchange market is determined by supply and demand,' yet his statements were muddled and contained errors, making it hard for journalists to grasp his points. When further questioned about whether the Central Bank would adopt a more flexible approach to exchange rate manipulation in the future, he continued to restate the bank's position without providing concrete answers, igniting netizen discussions that questioned his competence.
