Taiwan's central bank said on Wednesday it will not adopt foreign exchange control measures and that foreign exchange management measures are enough to maintain financial market stability.
The Taiwan dollar has, like other major Asian currencies, depreciated sharply in recent weeks due to aggressive interest rate hikes in the United States and U.S. dollar strength as well as worries over slowing global economic growth.
It has lost 13% so far this year against the greenback, though the currencies of two other major competitor exporters, Japan and South Korea, have weakened even more.