Tue, Jul 19, 2016 - Page 15 News List

New Taiwan dollar ends trading on 11-month high
外資匯入 新台幣創十一個月高

New Taiwan dollar and US dollar bank notes are pictured in an undated photo.

Photo: CNA

On Wednesday last week, the New Taiwan dollar exchange rate continued to rise off the back of foreign direct investment inflows and a stronger South Korean won. At close of trading on Wednesday the NT dollar was trading at NT$32.183 against the US dollar, a rise of 3.7 percent, which marks an 11-month high for the NT dollar.

Total trade volumes at the Taipei Foreign Exchange and Cosmos Foreign Exchange markets reached US$1.12 billion on Wednesday.

Currency traders said US stocks continued to rise, while Asian stock markets all made gains and were in a bullish mood.

The TAIEX fluctuated mid-way through trading and by market close had made only modest gains, rising 16.29 points. However, overbuying of TAIEX stocks by foreign investors to the tune of NT$9.40 billion, in addition to a rising South Korean won, provided the impetus for a soaring NT dollar exchange rate.

By close of trade, the NT dollar broke through its pre-Brexit referendum high, achieving a record 11-month high.









1. bullish mood n. phr.

看多氣氛 (kan4 duo1 qi4 fen1)

2. modest gain n. phr.

小漲 (xiao2 zhang3)

3. overbuy v.

買超 (mai3 chao1)

4. break through v. phr.

一舉突破 (yi4 ju3 tu2 po4)

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