Taiwan Dollar Finishes 2019 Strong
The Taiwan dollar strengthened past 30 versus the greenback this week for the first time in 18 months. The Taiwan dollar has climbed about 3.6% in the second half of the year as the best performer among the world’s major currencies.
Speculation abounds Taiwan’s central bank has been intervening in the market to slow the currency’s advance. Central bank Governor Yang Chin-long said this month that the monetary authority would “smooth” the market when large inflows cause excessive volatility. Policymakers are expected to curb further gains to protect exporters.
The benchmark Taiex stock gauge gained is up over 20 percent this year, its best performance since 2009. A strong economy will continue to attract flows into the local financial markets.
