Taiwan Dollar Surges to 31.14 TWD, Hitting a Year-and-a-Half High
Today (May 2), Taiwan's foreign exchange market experienced significant volatility as the Taiwan dollar strengthened notably. The USD/TWD exchange rate dipped to a low of 31.140 TWD, rising by 8.77 cents, breaking through the 32 TWD level and indicating active capital inflow into the Taiwanese stock market.
Analysts at the Taiwan Economic Institute warned that if the Taiwan dollar continues to rise to 30 TWD, 28 TWD, or even 25 TWD, it could cause severe damage to the export sector. The Central Bank recently clarified the reports claiming that the U.S. has requested the Taiwan dollar to appreciate, stating that there is no substantial basis for such claims.
