Taiwan Dollar's Dramatic Rise Sparks Discussion, Yang Chin-long to Hold Press Conference This Afternoon
The Taiwanese dollar has surged dramatically, breaking the 1 NT$ mark for two consecutive trading days, sparking public conversation. The Central Bank has announced an urgent press conference, to be held by Governor Yang Chin-long today (5th) at 4:30 PM to discuss the exchange rate matters.
After a single-day leap of 3.07% on the 2nd, the Taiwanese dollar showcased impressive strength again in today's opening, rising over 1 NT$ to a midday rate of 29.95 NT$, an increase of 1.114 NT$. The trading volume reached an astonishing US$26.34 billion. With the rapid rise in exchange rates affecting businesses significantly, and coinciding with the completion of the first round of tangible negotiations between Taiwan and the U.S., there are growing speculations in society.
To address these concerns, the Central Bank’s Yang Chin-long will personally hold a press conference this afternoon.
