Taiwan c.bank says to maintain orderly forex market

Published: 10 Mar 2009 01:45:40 PST

TAIPEI, March 10 - Taiwan's central bank said that the Taiwan dollar was relatively stable compared with other regional currencies, but that it would enter forex markets to maintain order during irregularities.

It made the comments in prepared remarks to be delivered by central bank governor Perng Fai-nan to parliament on Thursday, which were seen by Reuters on Tuesday.

The Taiwan dollar dropped sharply in the first two months of the year as the central bank let it depreciate in a bid to prop up the island's sagging exports amid the global downturn. But the currency has stabilised this month, pulling back from 22-year lows reached in early March.

The central bank also said it had adopted looser monetary policy in response to the global downturn.