The New Taiwan dollar has risen in value by 7 percent so far this year, sparking concerns the appreciation will impact upon Taiwan’s exporters. Hiwin Technologies Corp chairman Eric Chuo has called on the central bank to eliminate the interference of inflows and outflows of hot money, saying that rises and falls in the value of a country’s currency should be governed by the degree to which it is competitive.
At the company’s investors’ conference on Wednesday last week, while discussing the NT dollar, Chuo noted that the exchange rate has an impact upon import and export companies, adding that 80 percent of Hiwin Technologies’ sales come from exports, which means that the company’s profit is affected by exchange rate fluctuations.
Chuo also said Taiwanese industries need to upgrade and improve the added-value of their products in order to cushion the effect of currency fluctuations.
Photo: Reuters
照片：路透社
Given the current situation with hot money flows affecting the exchange rate, the central bank should stabilize the exchange rate by eliminating factors which cause inflows and outflows of hot money. While Chuo said he can appreciate the government’s predicament, he noted that the situation is different in Taiwan from that of the US since hot money does not have a significant impact on the US economy.
(CNA, translated by Edward Jones)
新台幣匯價今年以來漲幅約百分之七，成為影響出口表現隱憂。上銀董事長卓永財表示，中央銀行應排除熱錢進出干擾，貨幣升貶應該與國家競爭力相關。
上銀上禮拜三舉辦法人說明會。談到新台幣匯率，卓永財重申，本國貨幣匯率影響進出口廠商，上銀有八成以出口外銷為主，也會受到匯率波動影響損益。
卓永財指出，產業要升級提高附加價值，減緩匯率波動的影響。
卓永財重申，目前熱錢進出影響匯率走勢，匯率的穩定應該要把熱錢因素排除，他建議中央銀行應排除熱錢進出干擾。卓永財表示，可以體諒政府的難處，不過美國和台灣不一樣，熱錢進出對於美國沒有太大影響。
(中央社)
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