NT dollar tumbles to its lowest level in 20 months

SHOCK WAVES: The currency’s decline was in line with the TAIEX, which took a dive of 6.31 percent, but was relatively stable compared with other major currencies

Taipei Times
Date: Oct 12, 2018
By: Kao Shih-ching  /  Staff reporter

The New Taiwan dollar continued to slip and hit NT$31.105 versus the US dollar

The Central Bank building is pictured in Taipei on Aug. 15.
Photo: Lu Kuan-cheng, Taipei Times

yesterday, while the central bank seemed unwilling to intervene and stem the local currency’s decline.

The NT dollar shed 0.44 percent in Taipei trading yesterday, reaching its lowest level since Feb. 8 last year, when the local unit traded at 31.128 to the US dollar, central bank data showed.

Turnover totaled US$2.5 billion at Taipei Forex Inc and the smaller Cosmos Forex Inc, the highest level in the past four months, the data showed.

The NT dollar’s depreciation was in line with the TAIEX, which yesterday closed at 9,806.11 — a slump of 6.31 percent and the biggest one-day drop on the local market, Taiwan Stock Exchange data showed.    [FULL  STORY]

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