The New Taiwan dollar rose yesterday to a fresh 13-month high against the US dollar at the Taipei foreign exchange on expectations the Japanese government won't try to stop the yen from strengthening.
The local currency edged up NT$0.067 against the greenback to close at NT$33.513, the strongest closing level since May 25 last year. Yesterday's turnover totalled US$1.12 billion, compared with last Friday's US$400 million.
Japan's Finance Minister Masajuro Shiokawa told reporters after the Asia-Europe Finance Minister's meeting in Copenhagen on Saturday that many of his counterparts share the view that the dollar "may fall to about 115" against the yen.
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