Central bank said to intervene to cap U.S. dollar fall

Focus Taiwan
Date: 2019/10/18
By: Pan Tzu-yu and Frances Huang

Taipei, Oct. 18 (CNA) The local central bank stepped into the foreign exchange market Friday to limit the U.S. dollar's depreciation against the Taiwan dollar at a time of continued foreign funds inflow, according to dealers.

Nevertheless, the U.S. dollar dipped to a more-than one year low to close at NT$30.611 against the Taiwan dollar, down NT$0.070, or 0.23 percent, after coming off an earlier low of NT$30.575.

During the trading session, the U.S. dollar moved between NT$30.575 and NT$30.685 before the close. The greenback's closing level was the lowest since Oct. 1. 2018, when the currency ended at NT$30.556 against the Taiwan dollar.

This week, the U.S. dollar closed down NT$0.239, or 0.77 percent, against the Taiwan dollar.
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