Taiwan Central Bank: Taiwan Dollar Rising Persistently Vs Won
TAIPEI -(Dow Jones)- The New Taiwan dollar has been rising persistently
against the Korean won, Yen Tzung-Ta, director general of the Taiwan central
bank's department of economic research, said Friday.
Korea is Taiwan's major competitor in the export market, Yen said.
Both the Taiwan dollar and the Korean won have appreciated against the U.S.
dollar in recent years. But the Taiwan dollar has gained 47.7% against the won
since the end of 1986, and by 24.2% since the end of 2007, according to central
bank data.
When asked if the Taiwan dollar has any room to appreciate, Yen reiterated the
foreign-exchange rate is decided by the market, but volatility hurts exporters.
The central bank has said it will smooth over any drastic fluctuations in the
foreign-exchange market when needed.
-By Alex Pevzner, Dow Jones Newswires; 88622 502-2557; alex.pevzner@
dowjones.com
(END) Dow Jones Newswires
11-20-090508ET
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