U.S. dollar closes higher on Taipei forex (update)

Focus Taiwan
Date: 2016/10/13
By: Chiu Po-sheng and Frances Huang

Taipei, Oct. 13 (CNA) The U.S. dollar rose against the Taiwan dollar on Thursday, gaining NT$0.131 to close at NT$31.760 as the weakness of regional currencies placed downward pressure on the local currency throughout the session, dealers said . It was the seventh consecutive session the U.S. dollar has appreciated against the Taiwan dollar. During the seven sessions, the U.S. dollar has risen 1.35 percent, reaching its highest level on Thursday since Aug. 30 when the U.S. currency closed at NT$31.801.

The greenback opened at NT$31.650 and moved between NT$31.630 and NT$31.783 before the close of trading. Turnover totaled US$1.03 billion during the trading session.

Soon after the local foreign exchange market opened, the U.S. dollar extended its momentum from the previous session as traders, motivated by the losses of other regional currencies, dumped the Taiwan dollar, dealers said.     [FULL  STORY]