Reported about 1 year ago
In May, the New Taiwan Dollar increased by 1.22 cents or 0.37%, marking its first monthly gain this year. However, the Nominal Effective Exchange Rate (NEER) and Real Effective Exchange Rate (REER) both decreased to 100.64 and 104.34 respectively, hitting near nine-month and near two-month lows as reported by the Taipei Foreign Exchange Market Development Foundation. While the New Taiwan Dollar rebounded, its effective exchange rates dropped due to corrections in the stock market, potentially boosting Taiwan's export price competitiveness. Despite the New Taiwan Dollar outperforming currencies like the Japanese Yen and Chinese Yuan, it lagged behind the Australian Dollar, British Pound, Euro, and Swiss Franc leading to the reduction in NEER and REER metrics.
Source: YAHOO