Home NewsForex Market News Foreign capital retreated more than half, rose 9.6 cents to close at 28.36 yuan, and ended the week with 7 losses | Anue Juheng

Foreign capital retreated more than half, rose 9.6 cents to close at 28.36 yuan, and ended the week with 7 losses | Anue Juheng

by WOOWinvest
0 comment
Avatar


The central bank of Taiwan decided to raise interest rates by 1 yard to reduce the pressure of capital flight. In the early trading today (18), the exchange rate of the New Taiwan dollar against the US dollar broke through two levels, rising nearly 2 points, and the highest rushed to However, foreign capital immediately withdrew, causing more than half of the gains to be withdrawn to close at 28.36 yuan, an appreciation of 9.6 cents, the highest in more than a week. The total transaction value of the Taipei and Yuantai foreign exchange markets was 2.2205 billion US dollars.

The exchange rate of the New Taiwan dollar against the US dollar ended a seven-week streak of depreciation, with a cumulative weekly gain of 4.3 cents or 0.15%.

The US Federal Reserve decided to raise interest rates by 1 yard and started a cycle of interest rate hikes. Taiwan also ended the 7 consecutive interest rate freezes and followed up with 1 yard of interest rate hikes, which means that the era of cheap funds for more than 10 years has come to an end. , Central Bank President Yang Jinlong set the tone, the future monetary policy will move in the direction of “tightening” to fight against the high inflation.

The New Taiwan dollar against the US dollar bounced strongly for the second consecutive day. After opening with an appreciation of 28.44 yuan today, it then reached 28.258 yuan in one fell swoop, appreciating as much as 1.98 points, the highest point since March 7, but the increase gradually converged and failed to stand. Steady at 28.2, it ended at 28.36 yuan, up 9.6 points.

The transaction value of the Taipei foreign exchange market was 1.555 billion US dollars, and the transaction value of the Yuantai foreign exchange market was 665.5 million US dollars.

In terms of Taiwan stocks, shipping stocks are under selling pressure today, electronics are up and down each other, and financial stocks are strong due to interest rate hikes, providing support for the broader market. In late trading, a huge amount of more than 76.1 billion yuan exploded, and the incentive-weighted index edged up 8 points. to close at 17,456 points. After foreign investors bought 44.8 billion yuan of Taiwan stocks yesterday, they sold backhand over 1.769 billion yuan today.

Observing the performance of major currencies against the US dollar, according to the statistics of the central bank, the US dollar index fell by 0.13%, the Korean won rose by 0.55%, and the New Taiwan dollar appreciated by 0.34%. Following closely, the euro rose by 0.3%, and the Singapore dollar also rose by 0.09%; the RMB depreciated by 0.19% , the yen fell 0.17%.

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

You may also like

Leave a Comment

Our Mission is to help you make better trading decisions by providing actionable investing content, comprehensive tools, educational resources and assist you in making more money in the stock market.

Latest News

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

@2022 – All Right Reserved. Designed and Developed by WOOW Invest

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy