TAIPEI — The U.S. dollar rose against the New Taiwan dollar yesterday, gaining NT$0.014 to close at NT$30.709. Turnover totaled US$654 million during the trading session.
The greenback opened at NT$30.725 and moved between NT$30.449 and NT$30.740 before the close.
The New Taiwan dollar extended its strength during morning trade as further foreign funds flowed into the local market on expectations that the U.S. Federal Reserve will continue its quantitative easing policy to lift the U.S. economy, dealers said.
Meanwhile, a surprise interest rate hike by Australia’s central bank boosted other Asian currencies in regional markets — including the New Taiwan dollar — against the U.S. dollar, they said.