Reported about 1 year ago
On July 4, 2024, the New Taiwan Dollar exchange rate returned to the 32.4 level, ending at 32.48 yuan, rising by 1.52 cents, halting the three-month decline since July. The weak US 'small non-farm' data and comments from Fed Chairman Powell strengthened market expectations of a rate cut, leading to a weak US dollar, a general rise in Asian currencies, and a 350-point surge in Taiwan stocks. Foreign and institutional investors turned to buying, pushing the exchange rate above 32.5 yuan, settling at 32.48 yuan, rising by 1.52 cents, stopping the consecutive decline seen since July, with total trading volume shrinking to $1.372 billion USD.
Source: YAHOO