The Taipei foreign exchange market is closed today (19) in the Year of the Tiger. As the stock market was closed on the 17th, the trading volume was deserted. Affected by the strengthening of the US dollar, the NT dollar exchange rate depreciated by 3.5 cents and closed at 30.368 yuan. The turnover value of the Taipei foreign exchange market Only $414 million. During the Year of the Tiger (February 7, 2022 to January 19, 2023), the New Taiwan dollar has depreciated by 2.54 yuan, a depreciation rate of 8.36%, ending three consecutive years of rising, and the largest decline in 25 years.
A few days ago, foreign capitals rushed in and bought more Taiwan stocks ahead of the Year of the Tiger, which supported the short-term strength of the New Taiwan dollar. After the decision of the Bank of Japan not to adjust the monetary policy, foreign investment became more conservative. In addition, the stock market has been closed. Today After the exchange rate depreciated at 30.35 yuan at the opening, the lowest reached 30.38 yuan, and the turnover in the Taipei foreign exchange market was only 414 million US dollars.
The New Taiwan dollar depreciated by 3.5 cents against the U.S. dollar and closed at 30.368 yuan. Looking back at the performance of the foreign exchange market in the Year of the Tiger, the U.S. dollar index rose by more than 8% last year due to the strong interest rate hikes by the US Federal Reserve (Fed). From the beginning of 27 at the beginning of the year, it went all the way down to the low point of 32.319 yuan on October 25 last year, with a fluctuation of more than 4.5 yuan.
According to statistics, the total depreciation of the New Taiwan dollar in the Year of the Tiger was 8.36%, as expected by the market, second only to the depreciation of 19.08% in the year of the Ox during the Asian financial turmoil in 1998.
Observe the performance of major currencies against the U.S. dollar today. According to the statistics of the central bank, the yen rebounded by 1.62%, the Korean won also appreciated by 0.43%, the Singapore dollar depreciated by 0.23%, the renminbi depreciated by 0.22%, the euro depreciated by 0.16%, the New Taiwan dollar and the Vietnamese dong weakened simultaneously, and the Asian currency There are promotions and demotions.