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Taiwan Stocks Fall and Asian Currencies Depreciate: Impact of Strengthening US Dollar

Taiwan stocks fell, Asian currencies fell! The New Taiwan dollar has been depreciated by nearly 1 cent, and the temporary closing price is 31.762 yuan (photo by reporter Chen Meiying)

[Reporter Chen Meiying/Taipei Report]Taiwan stocks reversed and fell today, coupled with the strengthening of the U.S. dollar, Asian currencies fell, and funds were remitted on a large scale. It closed at 31.762 yuan, depreciated by 9.2 cents, and the turnover of Taipei foreign exchange brokerage companies was 743 million US dollars.

Fed officials said that due to the resilience of the U.S. economy, another rate hike in September could not be ruled out. Fed officials released hawks, causing U.S. bond yields to rise in tandem with the U.S. dollar. Among them, the yen depreciated by more than 0.5%, and the renminbi against the US dollar also broke the 7.2 mark, hitting a new low in nearly a month, and funds continued to flow to the US dollar.

After the exchange rate of the New Taiwan dollar ended 4 consecutive depreciations yesterday, it reflected the strengthening of the US dollar early in the morning. It was first offered at 31.69 yuan and depreciated by 2 cents. The exchange rate hit a new low in the band.

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2023-08-08 04:17:27
#Taiwan #stocks #fell #Asian #currencies #fellNew #Taiwan #dollar #depreciated #dimeFree #Finance #Economics

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