Taiwan's Resilient Financial Maneuvers Amid Global Market Turbulence

Taiwan's central bank is prepared to intervene to stabilize the Taiwan dollar amid volatility caused by U.S. trade tariffs. While global stock markets face turmoil, Taiwan's benchmark dropped significantly, but with minor currency gains. The bank reassures its capacity to manage foreign exchange effectively in such crises.

In response to significant global market fluctuations, Taiwan's central bank announced its readiness to intervene to stabilize the Taiwan dollar. The announcement follows a nearly 10% plunge in Taiwan's stock index, spurred by the U.S. President's new import tariffs.

Despite this market turbulence, the Taiwan dollar saw slight gains against the U.S. dollar. The central bank assured the public of its ample liquidity in foreign currency, drawing parallels to its effective crisis management during the COVID pandemic.

Eugene Tsai, head of the foreign exchange department, highlighted the bank's role in providing necessary liquidity without panic-induced withdrawals, reinforcing Taiwan's market resilience.

(With inputs from agencies.)