Reported 9 months ago
On June 26, 2024, the New Taiwan dollar closed at 32.554 against the US dollar in the Taipei foreign exchange market, dropping by 1.11 cents. The total trading volume in Taipei and Yuan Tai foreign exchange markets amounted to 24.7 billion US dollars. This depreciation was the largest in nearly a month. Despite the Taiwan stock market returning to 23000 points on the same day and closing with a gain of 110 points at 22986, the New Taiwan dollar moved in the opposite direction, depreciating by 1.1 cents at closing with a trading volume of 24.7 billion USD. The culprit behind this slump was identified as a surge in foreign outflows despite initial support from exporters due to end-of-quarter currency dumping.
Source: YAHOO