US dollar increases NT$0.011 to end trading at NT$29.995 on Taipei forex
July 21, 2012, 12:05 am TWN
TAIPEI -- The U.S. dollar rose against the Taiwan dollar Friday, gaining NT$0.011 to close at NT$29.995, but turnover remained low as concerns over the global economy kept many traders off the trading floor, dealers said.
The Taiwan dollar faced late session selling in particular, reversing its early gains, as the local central bank continued with efforts to slow the pace of the unit's appreciation against the greenback to protect Taiwanese exports, the dealers said.
The U.S. dollar opened at NT$29.990, and moved between NT$29.850 and NT$30.000 before the close. Turnover totaled US$491 million during the trading session.