Taiwan central bank governor says stronger currency is due to foreign fund inflows

[TAIPEI] Taiwan's central bank governor said on Thursday the recent strong rally of the local currency is due to massive foreign fund inflows. "There has been US$3 billion of foreign fund inflows to Taiwan since the start of this year," governor Perng Fai-nan told a parliament session. "Taiwan companies' stock dividend is good."

He declined to comment when asked whether the stronger local currency has to do with the central bank's fear of being labelled a currency manipulator by US President Donald Trump.

The Taiwan dollar has risen about 5 per cent so far this year, make it one of Asia's best-performing currencies against the US dollar.

REUTERS