The Reform of Taiwan's Exchange Rate System and Its Enlightenment

Abstract

Taiwan used to implement a relatively strict foreign exchange management system. The use of foreign exchange is limited to pre-approved trade and investment, and is collected and paid by the "central" bank; From February 1, 1979, the Taiwan authorities began to change the original foreign exchange management methods, implemented the so-called "mobile exchange rate" system, and established a foreign exchange market. The new foreign exchange management system is actually a highly managed floating exchange rate and local high