Stock exchange double kill!
The New Taiwan dollar has been depreciated by more than 1 cent, and it is temporarily closed at 30.321 yuan (photo by reporter Chen Meiying)
[Reporter Chen Meiying/Taipei Report] U.S. inflation rate in January was higher than expected, the U.S. dollar rebounded, coupled with the attack of bad news that Warren Buffett reduced his holdings of TSMC’s ADR, Taiwan stocks plummeted more than 200 points, and the exchange rate of the New Taiwan dollar against the U.S. dollar broke through 30.3 in early trading The yuan level closed at 30.321 yuan at noon, with a depreciation of 1.06 cents. The exchange rate was the lowest since the opening of the red market in the year of the golden rabbit. The turnover of Taipei foreign exchange brokerage companies was 795 million US dollars.
The annual growth rate of the U.S. consumer price index in January fell from 6.5% to 6.4%, but it was higher than the market's expected 6.2%. The meeting officials showed hawks, supporting the Fed to continue to raise interest rates, which caused the US dollar index to rebound from the low point and return to above 103. Non-US currencies were generally under pressure. Including RMB, South Korean won, Thai baht, etc. depreciated simultaneously.
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The exchange rate of the New Taiwan dollar was depreciated by 5.5 cents and 30.27 yuan this morning after the end of its 8-year depreciation yesterday. Then it broke through the 30.3 yuan barrier, the lowest touched 30.324 yuan, and depreciated by 1.09 cents. The exchange rate hit a new low in more than 2 weeks. Since the opening of the red market, almost all the gains have been given up. After the price of 30.3 yuan fell below, if Taiwan stocks continue to fall, it is not ruled out that the NT dollar exchange rate will drop to 30.5 yuan.
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