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RMB and New Taiwan Dollar Appreciate amid Asian Currency Rebound

RMBThe rebound led to the rise of major Asian currencies,New Taiwan dollarToday (18) it appreciated 3.2 cents against the US dollar to close at 31.942 yuan. The total turnover of the foreign exchange markets in Taipei and Yuantai totaled US$1.4255 billion;

to suppressRMBDepreciation, China’s state-owned banks actively sell dollars, makingdollar indexFalling, the major Asian currencies turned from depreciation to appreciation,RMBAppreciated 0.32% against the dollar,New Taiwan dollarAlso go up with the Asian currency.

New Taiwan dollarToday, I followed the Asian currency back to my senses and swept away the haze of depreciation on the 17th. After opening at 31.92 yuan in early trading today, driven by exporters’ foreign exchange, the exchange rate rose to 31.887 yuan, which rose to 31.887 yuan, an appreciation of 8.7 cents. With the remittance of foreign capital in the afternoon, the rate of appreciation converged, and the exchange rate returned to the price of 31.9 yuan.

While foreign money continues to flow out of stocks and currencies, foreign exchange traders sayNew Taiwan dollarDriven by exporters selling foreign exchange and the rebound of Asian currencies in early trading, the exchange rate rose above 31.9 yuan, but exporters also entered the market to buy foreign exchange, and foreign capital remitted out after noon, makingNew Taiwan dollarExchange rate gains converge.

Foreign exchange traders believe that the recent signs of inflation and the surge in U.S. bond yields have deepened the market’s expectations for the Federal Reserve to raise interest rates, thereby supportingdollar indexcontinued to be strong; in addition, foreign capital is still biased towards remittance,New Taiwan dollarIn the short term, it is easy to depreciate but difficult to rise. In the short term, it will repeatedly test the 32 yuan barrier.

According to central bank statistics,dollar indexSlightly fell 0.01%, major Asian currencies traded atJPYRelatively strong, with an appreciation of 0.63%;RMBAppreciation of 0.32%;wonThen it will appreciate by 0.28%.

2023-08-18 10:49:27
#TWD #Renminbi #normal #NTD #turned #close #yuan #weekly #line #black #Anue #tycoon #Forex

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