Earlier this month, the central bank said it had stepped into the local forex market in May in an attempt to settle "the high volatility" of the Taiwan dollar
against the U.S.
In the drop-down menu of United's China website, the mainland, Hong Kong and Taiwan are referred to by the Chinese Yuan, Hong Kong Dollar and New Taiwan Dollar
He said, 'The central bank is now observing experiments conducted in other regions and doing experimentation, but we can't go as far as announcing we plan to issue digital New Taiwan dollar
The Malaysian ringgit dipped 0.87 percent against the dollar, while the Thai baht, Taiwan dollar
and Philippine peso also weakened.
Wang of the Taiwan Association of Machinery Industry (TAMI) attributes the decreases mostly to the recent appreciation of New Taiwan dollar
Liu Yuan-sheng, the chief officer of Hotai Motor Co.'s Vehicles Operations Group, Toyota's dealer in Taiwan, stated that the price hike is to be applied in early 2011 and is likely to range from three percent to five percent due to an 11 percent appreciation of the Japanese currency against the New Taiwan dollar
Besides direct flights, Chiang said he is working toward allowing convertibility between the Taiwan dollar
and China's yuan to convenience an expected heavy flow of Chinese tourists to the island.
dollar depreciated against the currencies of all the economies, but the depreciation was slight versus the Taiwan dollar
. For more information, see news release, "International Comparisons of Manufacturing Productivity and Unit Labor Cost Trends, 2003," USDL 04-1945.
The national currency (the Taiwan dollar
) has gradually risen about 3 percent in value relative to the U.
This then gets transmitted forward to the rest of the region through the Singapore dollar and the New Taiwan dollar
. Often currency weakening alone will not be enough to absorb the pressures from a depreciating Japanese yen, and export prices have also to be reduced to safeguard exports.
In May, the Taiwan dollar
came under pressure against the U.S.