Hot money continues to flow!

New Taiwan dollar battles with the prefix 2 again, temporarily closing at 30.019 yuan at noon (photo by reporter Chen Meiying)

[Reporter Chen Meiying/Taipei Report] Taiwan stocks are re-ignited. With the continuous influx of hot money, the exchange rate of the NT dollar against the US dollar continues to touch the beginning of the 2 digits. However, the "boss" is actively preparing for the war. Once overturned, whether it can stand at the beginning of the 2 in the afternoon depends on the face of the central bank and foreign capital.

The NT dollar exchange rate temporarily closed at 30.019 yuan at noon, with an appreciation of 3.3 cents. The turnover of Taipei foreign exchange brokerage companies was 837 million US dollars.

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Inspired by the surge in U.S. stocks, Taiwan stocks once again rose sharply led by TSMC. However, various stocks rose and fell mixed, which caused the rise of Taiwan stocks to once converge to below 50 points.

The New Taiwan dollar exchange rate continued yesterday’s upward trend. After opening at 30.05 yuan in the morning, it first depreciated to 30.09 yuan, then surged to 29.998 yuan, a strong rise of 5.4 points, and then tended to fluctuate, roughly staying within yesterday’s range.

Foreign exchange traders pointed out that after the New Year of the Rabbit opened a red market, the New Taiwan dollar rose by more than 1.5 cents in two days, the strongest rise among major Asian currencies. Slowing down, the market waits and sees the conclusion of the interest rate meeting of the United States, Europe and the Bank of England. With the US dollar index fluctuating around 102, it is expected that the NT dollar should be consolidated between 29.8 yuan and 30.3 yuan in the short term.

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