The stock exchange is not adjusted! New Taiwan dollar 2 liters, closed at 29.505 yuan. (Photo by reporter Chen Meiying)
[Reporter Chen Meiying/Taipei Report]Taiwan stocks opened higher and lower today, falling to the “Wanliu” again. The exchange rate of the New Taiwan dollar against the US dollar continued yesterday’s rise, rising to a high of 29.464 yuan during the session, rising nearly 1 point, and finally closed at 29.505 yuan. Appreciated by 5.1 points, the exchange rate rose 2 consecutively, hitting a new high in nearly a month. The total transaction volume of Taipei and Yuantai foreign exchange brokerage companies was 1.388 billion US dollars.
The Federal Reserve’s monetary policy record in May was released. As expected by the market, most Fed officials believed that it was appropriate to raise interest rates by 2 yards each in June and July. At 15,968.83 points, the three major legal persons sold over 14.637 billion yuan at the same time, of which foreign investors backhanded another 11.85 billion yuan in Taiwan stocks.
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The trend of the New Taiwan dollar exchange rate was decoupled from the Taiwan stock market. It was separated at 29.56 yuan in early trading, with a slight depreciation of 0.4. Then there was a wave of US dollar selling, which made the New Taiwan dollar exchange rate break through 29.5 yuan in one fell swoop, and rose to a maximum of 29.464 yuan, reaching a new high in the band. It’s just that Taiwan stocks turned from red to black, which also limited the rise of the Taiwan dollar, and then fell into consolidation around 29.5 yuan.
Foreign exchange traders pointed out that after the US dollar pulled back from a 20-year high, it has been hovering at 101 and 102 recently, and the pressure on capital remittances has eased. In addition, the exporters’ routine foreign exchange selling demand at the end of the month has pushed the Taiwan dollar up to 29.5. Due to the volatility of the stock market and the continuous weakening of the RMB, it is difficult for the Taiwan dollar to be immune to itself. Follow-up observation of foreign investment trends may consolidate in the range of 29.4 yuan to 29.7 yuan in the short term.
According to the statistics of the central bank, the Taiwan dollar appreciated by 0.17% today, second only to the Japanese yen by 0.41% among the major Asian currencies.
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