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The New Taiwan dollar yesterday weakened 0.5 percent, or NT$0.144, to NT$29.05 in Taipei trading, the lowest in more than 18 months, as foreign players slashed holdings in pursuit of higher yields elsewhere, dealers said. It is the first time since September 30, 2020, that the local currency ended weaker than NT$29 against the US dollar, the central bank’s Web site showed. Combined turnover at Taipei Forex Inc and the smaller Cosmos Forex Inc totaled US$2.49 billion. The NT dollar’s decline has much to do with global funds redeploying assets after central banks announced monetary tightening policies, currency traders said. For example, the US ....
The TAIEX yesterday tumbled 3.15 percent, or 557.83 points, to 17,178.69, while the New Taiwan dollar fell 0.48 percent against the US dollar to NT$28.25, an 11-month low, dragged by capital flight as the US threatened more drastic sanctions against Russia and oil prices skyrocketed, traders said. Turnover on the main board was NT$456.783 billion (US$16.17 billion), the highest in more than seven months, Taiwan Stock Exchange (TWSE) data showed, while transaction volume hit a 13-year-high of US$2.533 billion on the Taipei Forex Inc during the session. Minister of Finance Su Jain-rong (蘇建榮) and TWSE officials called for calm amid escalating tensions ....