Emerging Markets Try to Tackle the Dollar By Don Dion About this article: Efforts by foreign central banks to stop the rise of their currencies versus the U.S. dollar will fail. Taiwan has banned foreigners from investing in time deposits in an effort to halt the rise of the New Taiwan dollar. Investors can still bring money into the country to invest in stocks; the policy is designed to deter hot money flows from traders just looking to buy Taiwan's currency. Investors who want exposure to Taiwan dollars can do so via the forward market, but they must accept a negative interest rate due to the expected appreciation. Unfortunately for the central bank, the policy change will have no effect on the Taiwan dollar, because it is a small countermeasure against the tsunami force of the market. When governments resort to extreme measures, they can overcome the force for the market, but the greater the force, the greater the required... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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