TAIPEI (TVBS News) — The New Taiwan dollar surged to a new five-month high, closing at 32.017 against the U.S. dollar on Wednesday (April 30). The currency briefly touched 31.942 during intraday trading, marking a significant appreciation as it broke past the 32.3 mark a day earlier. The trading volume reached US$2.276 billion, reflecting investor confidence.
Kuomintang (KMT, 國民黨) Chairman Eric Chu (朱立倫) addressed concerns over a potential currency war amid U.S. tariff tensions during a Central Standing Committee meeting earlier that day. Chu noted the dollar's sharp depreciation, dropping from 33.2 to 31.9, which equates to a nearly 4% decrease in export profit margins. He warned that if the dollar continues to fall next month, Taiwan may face an economic storm if the rate dips below 30.
Chu also highlighted an impending U.S. debt crisis in June, urging government action. He emphasized Taiwan's vulnerability due to its high exposure to U.S. debt, both in proportion and value. Despite repeated calls for a national affairs meeting to address these challenges, Chu criticized Premier Lai Ching-te (賴清德) for his inaction. He urged bipartisan cooperation to tackle domestic and international issues, ensuring Taiwan's safety and security.
