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

Focus Taiwan
Date: 2016/07/12
By: Chiu Po-sheng and Frances Huang

Taipei, July 12 (CNA) The U.S. dollar rose against the Taiwan dollar Tuesday, gaining NT$0.005 to close at NT$32.220 as traders here took cues from the weakness of other regional currencies to buy into the U.S. unit, dealers said.

After a fall of the U.S. dollar in the previous sessions, bargain hunting emerged, helping the currency climb out of a recent slowdown, dealers said.

In addition, the local central bank was believed to have entered the trading floor to help boost the U.S. dollar, they said.

The greenback opened at the day’s high of NT$32.250, and moved to a low of NT$32.195 before rebounding. Turnover totaled US$600 million during the trading session.     [FULL  STORY]