(Bloomberg) -- Taiwan's dollar rose to a two-week
high on speculation the central bank bought the currency to stem
losses after it fell this week to the lowest in 17 months.
The central bank bought NT$34 billion ($1 billion) in the
market to support the Taiwan dollar, the Taipei-based Economic
Daily News said today, citing an unidentified trader. The local
dollar's 2.2 percent drop this year has made it the worst
performer of the 17 most-traded currencies as the central bank's
key interest rate of 2.875 percent, among the lowest in Asia,
encourages investors to buy assets abroad.
Read more at Bloomberg Currencies News
high on speculation the central bank bought the currency to stem
losses after it fell this week to the lowest in 17 months.
The central bank bought NT$34 billion ($1 billion) in the
market to support the Taiwan dollar, the Taipei-based Economic
Daily News said today, citing an unidentified trader. The local
dollar's 2.2 percent drop this year has made it the worst
performer of the 17 most-traded currencies as the central bank's
key interest rate of 2.875 percent, among the lowest in Asia,
encourages investors to buy assets abroad.
Read more at Bloomberg Currencies News
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