TAIPEI: The U.S. dollar fell against the Taiwan dollar Wednesday, shedding NT$0.136 to close at NT$30.695 as foreign investors continued to move funds into regional equity markets, including into Taiwan’s stock exchange, dealers said.
The greenback’s losses were limited, however, as foreign exchange traders sold the local currency to lock in gains made in recent sessions, and Taiwan’s central bank intervened to keep the Taiwan dollar from appreciating too much.
The greenback opened at the day’s high of NT$30.830, and moved to a low of NT$30.450 before rebounding. Turnover totaled US$947 million during the trading session.
The U.S. dollar opened lower against the Taiwan dollar on follow-through selling and downward pressure escalated to push the U.S. unit to below NT$30.50 at one point, dealers said.
The weakness of the greenback reflected further inflows of foreign funds into the region, which gave a boost to other regional currencies, such as the Japanese yen and the South Korean won, they said.
