I remember when I could buy a Canadian dollar for 20 New Taiwan dollars. I want to cry.
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It's not that the Canadian Dollar is strengthening, it's the US Dollar that is sinking after years of the Federal Reserve giving money away. Oh, and the Taiwan Dollar has sunk right along with it because Taiwan wants exports to be cheap. There's no other reason why the Taiwan Dollar should be doing so crappy. If I were in charge I'd immediately raise Taiwan interest rates to 3.5%, set a target rate of 4.0% within 6 months, and lower the reserve ratio a bit. The Taiwan Dollar would stop sucking, inflation would go away, and Taiwan's economy would improve dramatically. The exporters will have to figure out how to sell to countries with strong currencies though.
In mid-1993, one British pound was worth NT 38. Today it's NT 68. [Gasp!]
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