The Taiwan dollar gained today on signs that nation’s assets were attractive to overseas investors, leading to inflows of foreign funds, and as politicians were planning to review taxes on capital gains.
Speculators have bought $996 million more Taiwanese shares than they sold by the end of last week, and this yearâs net purchases totaled $4.8 billion. Deputy Finance Minister Tseng Ming-Chung said that the government will form a committee to review the levies that were implemented last year. The currency advanced on the news, but analysts are worried that policy makers may intervene to weaken the Taiwan dollar as a way of protecting local exporters.
USD/TWD fell from 30.0420 to 29.9355 as of 8:14 GMT today.
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