TAIPEI (Reuters – Taiwan’s central banking has permitted Deutsche Bank Three sources tell Reuters that Taiwan Dollar Deliverable Forwards and Non-Deliverable Forwards will be traded again. This is after Reuters had suspended them last February as part of a crackdown against speculation.

Deutsche was handed a two-year sentence by the central bank following an investigation in which it claimed that foreign banks had helped grain companies to engage currency speculation using deliverable forwards. This affected the stability of Taiwan’s foreign exchange markets.

Due to the strong demand from global markets for Taiwan’s tech products during the COVID-19 Pandemic, the U.S. has seen its currency strengthen against the Taiwanese dollar.

Three sources familiar with the subject told Reuters that Deutsche Bank had been quietly granted permission to resume forwards trades. These sources spoke anonymously because they were not authorized to discuss the matter with the media.

Deutsche Bank refused to comment while Taiwan’s central banks did not reply to our request.

According to one source, the move was motivated by the bank’s cooperation on “improvement steps”. It is the only German bank on Taiwan and has been operating on Taiwan for many years.

Another source claimed that the bank responded to “motivation” and had fixed its processes.

For their role in this case, Australia and New Zealand Banking Group Ltd. (ANZ) was granted early relief by the central bank last July.

It was concerned by the fact that Taiwan’s strong dollar might make its exports more costly and put Taiwan in danger of being used as a currency manipulator.

Taiwan and Vietnam both exceeded U.S. Treasury thresholds for currency manipulation. However, the U.S. Treasury did not allow enhanced analysis as part of a 2015 trade law. The department, however, resisted the temptation to officially label them as manipulators in December.