Home NewsForex Market News Foreign capital fell for 2 consecutive depreciations and closed at 29.81 yuan, hitting a new low of 1.5 months | Anue Juheng

Foreign capital fell for 2 consecutive depreciations and closed at 29.81 yuan, hitting a new low of 1.5 months | Anue Juheng

by WOOWinvest
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Foreign capital fell for 2 consecutive depreciations and closed at 29.81 yuan, hitting a new low of 1.5 months | Anue Juheng


The U.S. dollar index broke through 106, hitting a 20-year high, Asian currencies generally weakened today (6), the Taipei stock market and foreign exchange market once again staged a double-kill trend, and foreign capital continued to withdraw and remit funds, causing the NTD to fall below the 29.8 yuan level against the U.S. dollar and depreciate at the end. 4.5 cents to close at 29.81 yuan, a one-and-a-half-month low, with a total transaction value of US$1.4105 billion in Taipei and Yuantai foreign exchange markets.

Foreign capital fled in June, selling more than 200 billion yuan of Taiwan stocks, and at the same time repatriating funds on a large scale. The net remittance in a single month was 2.537 billion US dollars, equivalent to about 75.5 billion New Taiwan dollars, the largest net remittance amount in the same period since 2014.

The exchange rate of the New Taiwan dollar against the US dollar re-tested the previous low point. Today’s lowest was 29.83 yuan, a depreciation of 6.5 points, and the depreciation rate at the end of the session was slightly restrained. It closed at 29.81 yuan, a depreciation of 4.5 points. At the lowest point, the transaction value of the Taipei foreign exchange market was 1.013 billion US dollars, and that of the Yuantai foreign exchange market was 397.5 million US dollars.

Observing the performance of major currencies against the U.S. dollar, according to the statistics of the central bank, the U.S. dollar index rose 0.86% today, and the risk aversion increased, driving the yen to appreciate by 0.49%, the euro to depreciate by 1.12% in a single day, the Korean won to depreciate by 0.46%, and the Singapore dollar to depreciate by 0.24%. The Taiwan dollar depreciated by 0.15% and the RMB by 0.08%.

Taiwan stocks continued to bottom out today, falling below the 10,000-point threshold, the weakest among the major Asian stocks, the electronics group was sluggish, and the financial and Formosa Plastics Group stocks gradually expanded, dragging down the weighted index by 363 points at the end, closing at the lowest of 13985 point, a 19-month closing low. The three major legal persons sold over 11.666 billion yuan in total, and foreign investors have withdrawn about 64 billion yuan from Taiwan stocks in 7 trading days.

The recent exchange rate trend of the New Taiwan Dollar. (Picture: Juheng.com)

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