Taiwan ready for cross-strait currency swap deal
Central News Agency
2014-03-11 10:59 PM
Taipei, March 11 (CNA) Taiwan's central bank has said it is ready to establish a currency swap agreement with China, although the two sides have not yet started formal consultations on the issue.

However, Taiwan has communicated informally with China on the matter and hopes to sign a cross-strait currency swap deal soon, it said. Zhou Xiaochuan, governor of the People's Bank of China -- China's central bank -- commented briefly on the matter Tuesday, but said only that he is aware Taiwan would like to discuss the issue.

Meanwhile, Taiwan's central bank is set to announce March 14 the figure for yuan-denominated deposits in February, which is expected to set another new high and add time pressure to a currency swap deal. As of the end of January, yuan-denominated deposits in Taiwan's banking system had hit a record high of 214.522 billion yuan (US$34.94 billion). Perng Fai-nan, governor of the Central Bank of the Republic of China -- the formal name of Taiwan's central bank -- said March 6 during a legislative interpellation session that he hopes the currency swap deal can be finalized by the end of this year, but pointed out that the issue does not hinge solely on Taiwan. (By Stacy Wu and Lilian Wu)

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