The Central Bank of Taiwan, as part of a crackdown on speculation, has prohibited Deutsche Bank from trading both deliverable and non-deliverable Taiwanese dollar futures, and has suspended trading in foreign currency derivatives for two years.
This action has led to the Taiwanese dollar rising to its highest level in over 23 years against the US dollar, contributing to the prosperity of the island's economy and increasing global demand for its tech products as people have been compelled to work from home. The bank also noted that foreign banks had assisted grain companies in engaging in currency speculation through deliverable futures contracts, which had impacted the stability of Taiwan's foreign exchange market.
