Fluctuating Foreign Exchange Market Creates Volatility
Today, the Taipei stock market and foreign exchange market experienced divergent trends, with the weighted index sharply fluctuating and the New Taiwan dollar depreciating against the US dollar to close at 31.475 yuan. The total value of market transactions increased to US$1.6855 billion, as large-scale payments of foreign capital and a rebound in the US dollar index influenced market movements.
New Taiwan Dollar Posts Three Consecutive Weekly Gains
The New Taiwan dollar exchange rate has been volatile this week, but managed to post three consecutive gains on the weekly chart, resulting in a cumulative appreciation of 1.53 cents and an increase of 0.48% over the week.
Foreign Capital Drives New Taiwan Dollar’s Decline
The New Taiwan dollar exchange rate opened at 31.32 yuan and experienced a sharp drop of 2.15 cents to close at 31.475 yuan against the US dollar, marking the second consecutive devaluation. Foreign investors’ early morning buying of the US dollar and subsequent strengthening in the afternoon, along with increased market activity from importers and exporters, contributed to the downturn. The transaction value of the Taipei foreign exchange market was US$1.051 billion, while the Yuantai foreign exchange market recorded a transaction value of US$634.5 million.
Regional Currencies Experience Pressure Against the US Dollar
Observing the performance of major currencies against the US dollar today, a significant outflow of hot money from the Asian market resulted in substantial declines. The Korean won fell 1.21%, the Japanese yen depreciated by 0.84%, the New Taiwan dollar depreciated by 0.68%, the euro depreciated by 0.51%, the Singapore dollar depreciated by 0.38%, and the RMB depreciated by 0.20%. Meanwhile, the US dollar index rebounded by 0.50%.
Recent Taiwan New Dollar exchange rate trends. (Photo: Juheng.com)
Taipei stock market and foreign exchange had a different mood today (1st) The weighted index turned very sharply and held 17,400 points. The Taipei foreign exchange market saw a lot of buying of the US dollar. In the end the Taiwan dollar depreciated New 2.15 cents. against the US dollar to close at 31.475 yuan Taipei and Yuantai Forex The total value of market transactions increased to US$1.6855 billion. Huiyin people pointed out that the main reason was large-scale payments of foreign capital, Asia’s major currencies collapsed also, the US dollar index rebounded strongly.
The New Taiwan dollar exchange rate fluctuated this week, but still posted three consecutive gains on the weekly chart, with a cumulative appreciation of 1.53 cents in one week, an increase of 0.48%.
The New Taiwan dollar exchange rate against the US dollar opened at 31.32 yuan today and ended at 31.475 yuan, the lowest of the day, a sharp drop of 2.15 cents, the second devaluation in a row. The transaction value of the Taipei foreign exchange market was US$1.051 billion, and the transaction value of the Yuantai foreign exchange market was US$634.5 million.
People in Huiyin pointed out that foreign investors started buying the US dollar early this morning, causing the New Taiwan dollar exchange rate to fall all the way. It became even stronger in the afternoon, and importers also came into the market at the same time. Exporters also made inward moves. the afternoon, but the amount was not large, it was mainly foreign capital that made payments.
Observing the performance of major currencies against the US dollar today, hot money flowed out of the Asian market in large quantities.According to statistics from the central bank at 4 pm, the Korean won fell 1.21% in one day, the Japanese yen . depreciated at the same time by 0.84%, the New Taiwan dollar depreciated by 0.68%, and the euro depreciated by 0.51%. , the Singapore dollar depreciated by 0.38%, and the RMB depreciated by 0.20%. The US dollar index rebounded 0.50%.
Recent Taiwan New Dollar exchange rate trends. (Photo: Juheng.com)
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