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Taiwan Dollar Rallies as Growth Makes Currency Attractive

May 2, 2014 at 13:32 by Vladimir Vyun

New Taiwan dollar banknotes and coinsThe Taiwan dollar rose today and headed to a weekly gain on hoped that economic growth and the rally of nation’s stocks will attract more investors to the emerging economy.

The government report showed that Taiwan’s gross domestic product grew 3.04 percent in the first quarter of 2014 from a year ago, a bit more than was expected. Global funds expanded their holdings of nation’s equities by $3.1 billion this quarter. The positive developments allowed the Taiwanese currency to post the first weekly gain after two weeks of decline, but the rally was limited.

USD/TWD ticked down from 30.2220 to 30.1885 as of 13:31 GMT today.

If you have any questions, comments or opinions regarding the Taiwan Dollar, feel free to post them using the commentary form below.

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