TAIPEI (TVBS News) — Taiwan's top monetary official moved Thursday (May 8) to quell market anxiety over currency issues, firmly denying that Washington has exerted pressure on Taipei to strengthen the New Taiwan dollar. Chin-Long Yang (楊金龍), governor of Taiwan's Central Bank (央行), the island's monetary authority, emphasized that U.S. economic concerns remain centered on tariff policies rather than Taiwan's currency valuation amid recent exchange rate volatility that has unsettled financial markets.
The central banker, who took the unusual step of personally conducting Monday's press conference, declared that market turbulence "should stop here," though his delivery raised eyebrows. Yang's noticeable stutter during the question-and-answer session fueled public doubt about the bank's messaging. During a subsequent appearance before the Legislative Yuan (Taiwan's parliament) finance committee, on Thursday Yang addressed his halting speech, insisting it stemmed from his unpolished public speaking abilities rather than concealing information or struggling with truthfulness.
In a formal statement, Taiwan's monetary authority clarified two key points: it has no involvement in the bilateral Taiwan-U.S. economic and trade working group, and the U.S. Treasury Department has made no requests regarding New Taiwan dollar appreciation. The bank offered an economic explanation for Taiwan's widening trade surplus with the United States, pointing to surging American demand for Taiwan's technology exports rather than any currency manipulation or exchange rate advantages.
The statement reaffirmed the monetary authority's long-standing policy against currency manipulation, highlighting that international watchdogs have not classified Taiwan as a currency manipulator in recent assessments. Bank officials also specifically addressed circulating media reports about a purported "Mar-a-Lago Accord" affecting Taiwan's currency policy, categorically rejecting such reports as unfounded speculation lacking factual basis. ★