Focus Taiwan
Date: 2017/01/27
By: Tsai Yi-chu and Lilian Wu

Taipei, Jan. 27 (CNA) The Taiwan dollar rose nearly 7 percent during the Year of the Monkey that ended Friday, the first lunar year during which the Taiwan dollar appreciated since the Year of the Dragon from 2012 to 2013.

The Taiwan dollar gained 6.89 percent against the U.S. dollar during the Year of the Monkey after closing at 31.36 to the greenback on Thursday, the last day of trading before the market closed for the Lunar New Year holiday.

It was the local currency’s highest level of appreciation in any lunar year since a 9.93 percent appreciation during the Year of the Tiger from 2010 to 2011, but nearly half of the gains were recorded in January.

Foreign exchange traders said the greenback has generally come under pressure since Donald Trump was elected president of the United States in November, and it fell further after his inauguration as Asian currencies, such as the Korean won and Japanese yen, continued to climb.    [FULL  STORY]