Is the NT dollar shortage due to Taiwanese scrambling to exchange for yen? Bank of Taiwan clarifies: ample inventory available

▲The sharp drop in the yen has led to an exchange rush; Bank of Taiwan clarifies ample inventory and no cash shortage.

Travel Center / Comprehensive Report

Recently, Japan implemented an indefinite quantitative easing monetary policy, causing the yen to depreciate significantly. At the end of October, the exchange rate of the yen to the New Taiwan Dollar was around 0.28, but it fell below the 0.27 mark in just a few days, triggering a wave of yen exchanges. There were also reports that some Bank of Taiwan branches had no yen available for exchange. However, the Bank of Taiwan stated that this is market rumor, and currently the yen inventory has been increased to several times the usual amount, with ample supply.

Although the Bank of Taiwan clarified that this is a market rumor, some netizens who went to exchange encountered different situations—some branches limited exchanges to only 100,000 yen, while others had no limits. Some people went to a certain branch that directly said they had no yen left, advising them not to come as there was nothing to exchange. A reporter personally went to a Bank of Taiwan branch in Nangang District, Taipei City, to exchange yen and successfully obtained 10,000 yen. When asking the staff, there was no mention of a 100,000 yen limit. The limit mentioned by netizens might be an isolated case or a temporary measure by certain branches.

However, Bank of Taiwan staff pointed out that due to the recent increase in people exchanging yen, the branch only has 10,000-yen bills available for exchange and cannot provide 1,000-yen bills.