The New Taiwan dollar had its lowest close in more than five weeks, dropping NT$0.205, or 0.61 percent, against the greenback to close at NT$33.894. Turnover totalled US$509 million, down from last Friday's US$998 million.
"There's a slight bias to the upside for the US dollar against the New Taiwan dollar, led primarily by the dollar-yen's move," said James Malcolm, a foreign-exchange strategist at J.P. Morgan Securities (Asia) Ltd in Singapore.
Overseas investor sales of Taiwan's stocks also pressured the local unit. These fund managers have sold more than a net NT$34 billion worth of shares in the last eight sessions before yesterday.
They also sold a net NT$7.76 billion of shares yesterday, the Taiwan Stock Exchange said in a statement.
"That's another negative flow [for the New Taiwan dollar] in the market," Malcolm said.
Agencies
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