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

Focus Taiwan
Date: 2017/02/17
By: Chiu Po-sheng and Frances Huang

Taipei, Feb. 17 (CNA) The U.S. dollar fell against the Taiwan dollar on Friday, shedding NT$0.016 to close at NT$30.776 as the greenback gave up earlier gains on the back of selling by Taiwanese exporters, dealers said.

Continued fund inflows into the country and further institutional buying in the local equity market also pushed the U.S. dollar into negative territory at the end of trading, they said.

The greenback opened at NT$30.810 and moved between NT$30.755 and NT$30.839 before the close. Turnover totaled US$625 million during the session.

Soon after the local foreign exchange market opened, the U.S. dollar staged a technical rebound against the Taiwan dollar from its fall on Thursday to pass the NT$30.8 mark and hit a high for the day, as traders took their cue from the weakness of other regional currencies, in particular the South Korean won, which the local unit tracks closely, dealers said.    [FULL  STORY]

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.