The Taiwan dollar advanced today on speculations that capital inflows into Taiwan’s economy will prompt the central bank to refrain from an intervention even as the currency appreciates.
Taiwan’s benchmark TAIEX index rallied 1.1 percent today as overseas investors poured a net $666 million into local shares. Analysts think that inflation may accelerate to 1.8 percent this month, the fastest pace since February 2013. Unlike some other emerging market currencies, the Taiwan dollar was able to maintain gains versus its US counterpart.
USD/TWD ticked down 0.06 percent to 29.93 as of 15:17 GMT today.
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