The exchange rate of the New Taiwan dollar hit a new high in nearly 3 weeks.

(Photo by reporter Chen Meiying)

[Reporter Chen Meiying/Taipei Report] Credit Suisse and First Republic Bank received financial aid one after another, which encouraged the US and European stock markets to soar. Taiwan stocks even opened higher today. 30.554 yuan, up 7.7 cents, the exchange rate hit a new high in nearly 3 weeks, but the market has a strong wait-and-see atmosphere, and the trading volume is only 1.177 billion US dollars.

This week, the exchange rate of the New Taiwan dollar surged by 2.94 cents or 0.96%.

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Taiwan stocks closed in late trading today, rising 231.84 points to close at 15452.96 points. The three major legal entities bought more than 12.54 billion yuan in total, of which foreign capital ended 3 consecutive sales and turned to buy more than 10.909 billion yuan.

Foreign capital also flooded in in the afternoon, pushing up the exchange rate of the New Taiwan dollar, which rose to 30.53 yuan at the highest intraday, and major Asian currencies also rose sharply.

According to the exchange rate announced by the central bank at 4:30, the U.S. dollar index fell 0.29% today, the euro rose 0.34%, the safe-haven demand for the yen cooled, and it rose slightly by 0.08%, the Korean won rose 0.83%, the renminbi rose 0.53%, and the Taiwan dollar rose 0.25%.

The director of Huiyin said that the Swiss National Bank and the US government have successively "dismantled bombs" to prevent the spread of Credit Suisse's financial crisis. The First Republic Bank also received a lifeline. In addition to the fall of the dollar, the European Central Bank raised interest rates by 2 yards as originally planned yesterday, and the euro rose, which is also one of the reasons for the fall of the dollar.

However, the European Central Bank's focus on combating inflation has also pushed up the market's prediction that the Fed will raise interest rates by one yard next week. According to CME FedWatch, interest rate futures investors bet on the probability of the Fed raising interest rates by one yard in March. The previous day's 50% soared to 92.3%.

At present, the focus of the outside world has shifted back to whether the Fed's decision next week is as expected by the market, and what changes will occur in the path of raising interest rates. Will it still insist on continuing to raise interest rates until inflation falls to 2%?

All will affect the trend of the global financial market. In addition, the Ministry of Economic Affairs announced to increase electricity prices in April, whether it will increase inflation in Taiwan and force the central bank to continue raising interest rates. The outside world is also waiting to see.

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