Taiwanese central bank asks for smaller dollar trades

Large dollar orders may slow down foreign exchange transactions, central bank says

taiwan-cb
Taiwan's central bank

Taiwan’s central bank has told traders at commercial banks to sell the US dollar in smaller amounts, FX Markets has learned.

The size of some banks’ dollar orders have had negative effects on the market, a spokesperson for the central bank says. They say the country’s foreign exchange market is not deep, and if dollar orders are too large it will affect the speed of FX transactions in the interbank market.

The central bank has suggested traders sell the dollar in orders smaller than $5 million

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