TAIPEI (Taiwan News) — Taiwan’s Central Bank has given Germany’s Deutsche Bank permission to resume trading currency forwards denominated in New Taiwan dollars, according to a CNA report.

This will enable the bank to resume both dollar forwards and non-deliverable forwards, both the Central Bank and Deutsche Bank have declined to confirm the report.

Deutsche Bank's licenses for both kinds of forward trading were revoked last February after the bank was found to be involved in forex speculation. The Central Bank found that a number of foreign banks, including Deutsche Bank, had assisted grain merchants in using forwards to speculate on foreign exchange rates, impacting the stability of Taiwan’s exchange markets.

Taiwan is deciding to revive the license now due to Deutsche Bank’s compliance and improved oversight measures, CNA cited an inside source as saying. The Central Bank lifted the restrictions on the other banks that had been involved in the speculation — ING and ANZ Group — in July last year.