BANKERS OPPOSE STRICT TAIWAN CURRENCY CONTROLS

  Taiwan imposed currency controls today
  in what bankers called a desperate move to prevent speculation
  as the Taiwan dollar appreciated against the U.S. currency.
      The strict controls will require proof that large
  remittances to Taiwan are connected to commercial transactions
  rather than currency speculation.
      Bankers attacked the controls as ineffective, saying they
  were a panic reaction to pressure from Washington for faster
  appreciation of the Taiwan currency against the U.S. dollar,
  which would slow exports to the United States.
      Remittances exceeding one mln dlrs earned through exports,
  shipping, insurance or bank lending will now need government
  approval, along with remittances of more than 10,000 dlrs from
  any other source.
  

