Taiwan says local listed companies take forex losses of $4.4 bln in 2016
TAIPEI, April 5 Taiwan's financial regulator said on Wednesday that companies listed on the local stock exchange had reported forex losses of T$133.9 billion ($4.4 billion) in 2016, because of the Taiwan currency's strength against the U.S. dollar.
Some investors have been concerned the losses would continue to climb, given the Taiwan dollar has strengthened about 6 percent so far this year.
About T$122 billion of the currency losses was reported by insurers.
Taiwan's central bank, fearful of being labelled a currency manipulator by U.S. President Donald Trump, has pulled back on intervention to weaken the Taiwan dollar, making it Asia's second best-performing currency in 2017.
Officials of the Financial Supervisory Commission revealed the forex losses at a legislative session, without elaborating.
(Reporting by Faith Hung; Editing by Eric Meijer)