The Taiwan stock and foreign exchange markets are performing strongly, with the New Taiwan Dollar (NTD) against the US Dollar soaring. This afternoon (February 2), it surpassed the 31 NTD mark, reaching the '30s' for the first time since January 2024, with an intraday increase of over 1.2 NTD and more than a 3% rise. The central bank clarified that 'the US has not requested an appreciation of the NTD,' yet the influx of hot money has created an unprecedented trend for the NTD.

This morning, the NTD initially broke 32 NTD, soaring to 31.14 NTD, and later consolidated around 31.394 NTD, a rise of 6.23 cents, with an unusual trading volume of 1.492 billion USD. Market analysts suggest that the central bank may intervene to maintain the 31 NTD level. In the afternoon, the NTD exchange rate hit the '30s' but slightly pulled back before this report was published. Analysts believe that with the expectation of interest rate cuts by the Federal Reserve and the recent surge in Taiwan's stocks, the NTD's upward momentum is likely to continue.

The central bank emphasized that the US has not asked for the NTD to appreciate and refuted recent inaccurate reports. They will continue to monitor international financial market trends to maintain stability of the NTD.