Reported 12 months ago
During the review of the Insurance Law at the Legislative Yuan's Finance Committee on July 3, 2024, lawmakers proposed reducing the cap on overseas investments by insurance companies from 45% to 25%, potentially leading to over 9 trillion funds flowing back to Taiwan. This could impact the exchange rate, with questions raised about whether the New Taiwanese Dollar would strengthen to 24-25 or 25-26 against the US Dollar. The Deputy Governor of the Central Bank mentioned that the recent depreciation of the New Taiwanese Dollar was influenced by the strong US Dollar and foreign investors selling Taiwanese stocks, with efforts by the Central Bank to maintain exchange rate stability.
Source: YAHOO