NT dollar falls, as won continues its four-week rally

Taipei Times
Date: Apr 24, 2016
By: Staff writer, with CNA and Bloomberg

The US dollar rose against the New Taiwan dollar on Friday, gaining NT$0.034 to close at NT$32.33, from NT$32.436 on Friday last week, as foreign investors moved funds out of the region, dealers said.

In the wake of the fund outflow, other regional currencies trended lower against the US dollar, which added downward pressure on the Taiwan dollar throughout the session, although buying by Taiwanese exporters in the local unit gave some support to the currency, capping the losses, the dealers said.

The greenback opened at NT$32.27 and moved between NT$32.25 and NT$32.36 before the close. Turnover totaled US$513 million during the trading session.

The US dollar opened lower against the NT dollar as traders here locked in gains they had built up a session earlier, but the greenback soon recouped its losses and traded in positive territory as some foreign investors remitted their funds back to their home markets, the dealers said.     [FULL  STORY]

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