Taiwan to Tighten Rules on Local Companies’ FX Transactions
- Revised rules designed to curb foreign currency speculation
- Taiwan dollar has strengthened to highest in 23 years
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Taiwan’s central bank said it plans to tighten rules on local companies’ foreign exchange transactions in the latest move to curb speculation after the Taiwan dollar rose to its strongest in 23 Years.
The monetary authority will be able to order firms to seek approval for forex transactions when necessary, according to draft revisions to existing rules announced on the central bank’s website.