NT dollar falls with weak yen

Sandra Chuang, The China Post

The NT dollar yesterday fell NT$0.041 against the U.S. dollar to close at NT$35.047 to US$1 on a daily turnover of US$440 million.

The exchange rate opened higher at NT$35.002 to US$1 but failed to sustain its gains on the weakening Japanese yen and greenback demand associated with crude oil payments.

The NT dollar was pulled down to the daily low of NT$35.085 against the U.S. dollar later in the morning but a rise in the local stock market helped offset depreciation pressure on the local currency.At midday, the NT dollar was quoted at NT$35.037 to US$1, down NT$0.031 from the previous close of NT$35.006. In the afternoon session, the NT dollar continued to consolidate around the morning close on greenback selling by the Central Bank of China and profit-taking among overseas traders. The NT dollar was traded between NT$35.085 and NT$34.907 yesterday.