Taiwan c.bank says to maintain order in forex market

Published: 02 Mar 2009 22:17:43 PST

TAIPEI, March 3 - Taiwan's central bank will ensure an orderly foreign exchange market if irregularities arise, the governor said on Tuesday, after the Taiwan dollar hit a 22-year closing low in the previous session.

"The Taiwan dollar is determined by market demand and supply," Governor Perng Fai-nan told legislators in a parliament session, which a local TV station carried.

"The central bank will enter the market to make necessary adjustments if there are market irregularities," he said, repeating the central bank's usual policy line.

Perng also said the Taiwan dollar's level was relatively stable compared with currencies such as the Korean won <KRW=>, the Japanese yen <JPY=> and the euro <EUR=>, reiterating the central bank's previous comments.