Greenback finishes trading day lower on Taipei forex
CNATAIPEI--The U.S. dollar fell against the Taiwan dollar Tuesday, shedding NT$0.065 to close at NT$29.760 on further fund inflows as foreign investors continued to inject funds into local equity markets, dealers said.
September 11, 2013, 12:11 am TWN
Taiwan's latest export data, which showed exports in August rising more than 3 percent from a year earlier, and the strength of other regional currencies, also triggered buying in the Taiwan dollar, dealers said.
Taiwan's central bank intervened late in the session to slow down the pace of the Taiwan dollar's appreciation, helping the greenback recoup most of its earlier losses, dealers said.
The greenback opened at the day's high of NT$29.825, and moved to a low of NT$29.622 before rebounding. Turnover totaled US$729 million during the trading session.
Before the central bank intervened, the U.S. dollar lost momentum against the Taiwan dollar as traders here saw foreign investors continue to inject funds into the local stock market, dealers said.