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Taiwan Dollar Suffers from Intervention Speculations

October 11, 2013 at 14:19 by Vladimir Vyun

New Taiwan dollar banknotes and coinsThe Taiwan dollar slipped today on concerns that the rally of the currency will spur policy maker to intervene, weakening the currency to protect domestic exporters.

According to the government data, Taiwan exports dropped 7 percent in September from a year ago. The International Monetary Fund cut the forecast for the nation’s growth to 2.2 percent from 3 percent this year. The data led to speculations that the central bank may intervene to reduce the negative impact of the currency’s appreciation on the economy.

USD/TWD went up 0.15 percent to 29.4480 as of 14:18 GMT today.

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