![]() ![]() These include required bank reserve deposits, discounts, open market operations, re-deposits from financial institutions and selective credit management. In practice, the bank uses several operational instruments to fine-tune the daily figures of reserve money and the interbank overnight loan rate. Under this system, the bank sets a target range for the country's M2 aggregate money supply in order to determine an appropriate discount rate. ![]() The Taiwanese central bank customarily uses a monetary targeting system to seek to achieve economic growth and inflation goals. Taiwan's monetary policy is carried out by the Central Bank of Taiwan's 15-member board of directors at quarterly monetary policy meetings. For this reason, the bank's policy is frequently classified by analysts as a managed floating exchange rate system. Despite this policy change, the Taiwan central bank is thought to resort to currency market intervention on occasion to stabilise domestic prices and the exchange rate, and to promote exports and economic growth. dollar, but in that year switched over to a floating exchange rate system. Until 1978, Taiwan used a fixed-rate exchange system, pegging its currency to the U.S. This helped boost Taiwan into the league of what became known as the "Asian tiger" economies. In the 1960s and 1970s, the country's economy grew at averages of around 10% annually and the savings rate reached more than 30%. In this environment, the country developed a strong manufacturing and export base and robust economic growth ensued, helping the country maintain a stable currency. In the aftermath of WWII and the Communist takeover of mainland China, Taiwan was heavily dependent on aid from the U.S. The new Taiwan dollar effectively became the Taiwan dollar that remains in use to the present. In an effort to rein in runaway inflation that had assailed the old Taiwan dollar, the Taiwanese government introduced the new Taiwan dollar at a rate of 1 to 40,000 of the previous currency. In 1949, with the beginning of Communist rule in mainland China, the Chinese Nationalists moved their capital to Taiwan from Nanjing under the leadership of Chiang-Kai Shek. At that time, the Chinese Nationalist government adopted the Taiwan dollar, known now as the old Taiwan dollar, as the country's currency. Japanese rule in Taiwan ended in 1945 with the end of WWII, and the Chinese Nationalists took over the island. From that time, the Taiwanese yen, which was placed on par with the Japanese yen, was used in the country. With Chinese rule, silver Chinese Tael coins and copper coins such as Yongle Tongbao coins were in circulation.Ĭhinese coins remained in use in Taiwan until 1895, when the island was taken over by the Japanese during the Sino-Japanese war. The Dutch and visiting Spanish merchants on the island brought with them European gold and silver currency, including Dutch Guilders and Spanish 8 Real coins. The original inhabitants of Taiwan lived off of subsistence agriculture and hunting, but sugar and rice farming gained prominence on the island with the arrival of the Dutch. In 1683, the Chinese emperor Shengzu of the Qing dynasty wrested control of Taiwan from Koxinga's grandson Cheng K'o-shuang, and the rule over the island was transferred to the Chinese Qing dynasty. Following the Dutch settlement, the Chinese population grew to about 35,000, and in 1661 the Chinese-Japanese sea lord Koxinga drove the Dutch off the island. At the time of their arrival, they found a population of about 70,000 aboriginal inhabitants and around 2,000 Chinese and Japanese fishermen and merchants who used the area as a trading outpost. If you want to check the bank's historical exchange rate information, please go to "Inquiry for Historical Foreign Exchange Rate".The island was taken over by Dutch settlers in 1622. The exchange rate information on this page displays the "Foreign Exchange Rate - Business Hours" during the bank's business hours, and "Foreign Exchange Rate - Non-Business Hours" during the bank's non-business hours.This webpage card informs exchange rate information shows for the static behavior, the card shown informs exchange rate information will not continue unusual fluctuation and upgrade information automatically afterwards, want to learn new brand of our bank the most please press ' obtain the newest quotation ' the button to inform exchange rate information.Real prices at the banking counter are according to our quote prices at that time in transaction.Real prices in net bank are according to the display prices at that time in transaction.The Information provided here is only for your reference, and does not represent any real price in transactions.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |