Reported 12 months ago
On July 2, 2024, both stocks and foreign exchange markets took a hit in Taiwan. The Taiwan Stock Exchange dropped nearly 200 points, while the New Taiwan Dollar continued to depreciate, falling below 32.6 per USD within 10 minutes of trading. International investors and fund managers actively sold off, pushing the New Taiwan Dollar to close at 32.627, marking a low not seen in over two months with an 8.1-point depreciation. The recent depreciation is attributed to heightened market risk aversion stemming from factors like the upcoming elections in the US and France, with investors flocking to the US Dollar. Despite some rebounds, the short-term outlook for the New Taiwan Dollar remains pressured, impacted by global geopolitical risks and market movements.
Source: YAHOO