Taiwan Central Bank Governor Appeals for Price Cut of Japanese Imports

Taiwan's Central Bank Governor F. N. Perng appeals for price reduction of Japanese imports with the Japanese yen having depreciated about 4% against the U.S. dollar since the beginning of this year.

Perng suggests that prices of Japanese imports should drop 3%-4% to reflect such depreciation, adding that the Japanese government is actually manipulating the devaluation in hopes of again making the yen attractive for overseas investments.

Economics Minister T. J. Duh indicates that the yen-to-greenback ratio had depreciated by a sizable 15% since early last year till the end of September, also urging importers of Japanese goods, including cars, garments, cosmetics, medicines, healthcare products, and foods, to cut prices to fairly pass down savings to consumers. (JL)

Major Asian Currencies Vs.  U.S. Dollar in First 9 Months
Currency	Fluctuation (%)
Indonesian rupiah	1.92
Thai baht	1.88
Korean won	1.49
Malaysian ringgit	1.19
Singaporean dollar	-0.01
Philippine peso	-0.12
New Taiwan dollar	-0.99
Chinese yuan (renminbi)	-1.32
Japanese yen	-3.29

Source: Banks in Taiwan