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Taiwan Central Bank Asks Traders to Spread Out U.S. Dollar Sales

Bloomberg logoBloomberg 9/13/2020 Debby Wu and Argin Chang
a close up of a sign: TAIWAN - SEPTEMBER 20: A man exits the headquarters of the Central Bank of the Republic of China (Taiwan) in Taipei, Taiwan, on Thursday, Sept. 20, 2007. Taiwan's central bank increased its benchmark interest rate for a 13th consecutive quarter to combat inflation and stem a surge in investment overseas. (Photo by Maurice Tsai/Bloomberg via Getty Images) © Photographer: Bloomberg/Bloomberg TAIWAN - SEPTEMBER 20: A man exits the headquarters of the Central Bank of the Republic of China (Taiwan) in Taipei, Taiwan, on Thursday, Sept. 20, 2007. Taiwan's central bank increased its benchmark interest rate for a 13th consecutive quarter to combat inflation and stem a surge in investment overseas. (Photo by Maurice Tsai/Bloomberg via Getty Images)

(Bloomberg) -- Taiwan’s central bank urged traders to show restraint in sales of U.S. dollars and not to offload large amounts in single transactions, but didn’t set a cap, according to a statement from the monetary authority.

The statement follows media reports that the central bank has restricted banks’ sales of the U.S. currency to no more than $5 million per trade in the foreign exchange market.

“A limited number of banks looked to sell a large amount of U.S. dollars in a single offer in recent days, and this has affected the trading speed and the rights of other banks making offers,” Taiwan’s central bank said. “We are kindly asking traders not to sell a large amount of U.S. dollars in one single trade.”

a close up of a sign: TAIWAN - SEPTEMBER 20: A man exits the headquarters of the Central Bank of the Republic of China (Taiwan) in Taipei, Taiwan, on Thursday, Sept. 20, 2007. Taiwan's central bank increased its benchmark interest rate for a 13th consecutive quarter to combat inflation and stem a surge in investment overseas. (Photo by Maurice Tsai/Bloomberg via Getty Images) © Photographer: Bloomberg/Bloomberg TAIWAN - SEPTEMBER 20: A man exits the headquarters of the Central Bank of the Republic of China (Taiwan) in Taipei, Taiwan, on Thursday, Sept. 20, 2007. Taiwan's central bank increased its benchmark interest rate for a 13th consecutive quarter to combat inflation and stem a surge in investment overseas. (Photo by Maurice Tsai/Bloomberg via Getty Images)

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