The U.S. Treasury Department released an exchange rate report on the evening of the 10th, Taiwan time, and did not list any trading partners as a currency manipulator, while my country was put on a watch list. Exceeding the inspection standard, it is still necessary to continue close consultation with the United States on exchange rate-related issues in the next year.
The U.S. Treasury Department released its semi-annual exchange rate policy report on June 10. The review period is for the whole year of 2021, and it did not list any major trading counterparties as currency manipulators.
In this exchange rate policy report, because my country only touched two U.S. inspection criteria, such as trade surplus with the U.S. and current account surplus, and the central bank’s net foreign exchange purchases did not exceed the inspection criteria, my country was changed to the watch list.
In response to this, the central bank must continue to conduct close consultations with the US on exchange rate-related issues in the coming year.
The central bank further explained that since April last year, it has held several close consultation meetings with the U.S. Treasury Department, and expressed its position to the U.S. side on Taiwan-U.S. bilateral trade and exchange rate issues. The discussions will help reach consensus on issues of concern to the US.
The central bank emphasized that the communication channel with the U.S. Treasury Department is smooth, and the two sides will continue to communicate on issues such as the overall economy and exchange rate policy on the basis of good interaction in the future.
