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Title: U.S. Dollar Weakens Against Taiwan Dollar in Taipei Forex Market
Date: September 5, 2024
By: Y.F. Low, Central News Agency (CNA)
The U.S. dollar experienced a decline in the Taipei foreign exchange market on Thursday, falling by NT$0.117 to close at NT$32.071 against the Taiwan dollar. The trading session saw a total turnover of US$1.091 billion.
The greenback opened at NT$32.120 and fluctuated between NT$32.060 and NT$32.138 before settling at the closing price. The decline marks a shift in the currency’s performance, which has shown variability in recent sessions.
In other financial news, Taiwan’s stock market opened lower, with investors closely watching the Central Bank’s potential moves to tighten the housing market in its upcoming September 19 meeting. Forex reserves reached a new high at the end of August, attributed to central bank intervention.
Meanwhile, in the business sector, Taiwan Semiconductor Manufacturing Company (TSMC) reported that its Arizona project is progressing well, although specific yield rates were not disclosed. The semiconductor industry continues to be a key driver of the Taiwanese economy.
In sports, Taiwan achieved significant success at the tug-of-war championships, bagging 6 golds, 2 silvers, and 1 bronze. Additionally, Taiwan’s national baseball team won the U-18 Asian Baseball Championship, securing a victory against Japan.
The cultural scene in Taiwan is also vibrant, with events such as the first ‘Warrior’ cultural festival by Indonesians and the upcoming performance of the Vienna Boys’ Choir in October.
As the market continues to evolve, analysts are keeping a close eye on the U.S. dollar’s performance in the Taipei forex market, which could impact a range of economic activities in the region.
This report provides a concise overview of the U.S. dollar’s performance in the Taipei forex market, incorporating relevant context and related news items to give readers a comprehensive understanding of the financial landscape in Taiwan.
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