Taiwan Dollar Surges, Sparking Currency Exchange Rush; Buffett Expresses Pessimism About the Dollar
The Taiwan dollar has recently soared, breaking the 30 NT$ barrier in trading yesterday, hitting a rare level of 29.59. This rapid rise has led many residents to hastily exchange for cheaper US dollars and yen today.
In this context, "Oracle of Omaha" Warren Buffett has expressed concerns about the future of the dollar. Announcing his retirement by the end of 2025, Buffett stated he would not invest in 'a currency headed for hell.' He criticized US tariffs, which he believes have negatively impacted the market and weakened the dollar.
While the dollar still holds a dominant position in international markets, Buffett's statements have been widely interpreted as a sign of declining confidence in the dollar. Furthermore, he revealed that his firm has increased its stakes in Japan's five major trading companies and plans to hold these shares long-term, signaling a positive outlook on the yen.
