Fantastic! Now l wish they would just let it go back to 27 like it was before the Asian Financial Crisis. The US$ is the one that is horribly overvalued now.
Central bank to allow a stronger NT dollar: RBSBLOOMBERG
Thursday, Nov 19, 2009, Page 12“The market consensus view is that the Taiwan dollar is not only undervalued but has tremendous scope for appreciation.”
— Royal Bank of Scotland research noteThe central bank may allow the local currency to appreciate against the US dollar because of the rising cost of intervention, Royal Bank of Scotland Group Plc (RBS) said.
The New Taiwan dollar will strengthen 3.8 percent to NT$30.9 against the US dollar over the next three months as looser regulation of cross-strait expansion by financial companies attracts inflows, Chia Woon Khien, head of currency and interest rate strategy for Asia outside Japan, said in an e-mail.