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Taiwan Dollar Breaks Through 31.5 Yuan Mark as Japanese Yen Depreciates: Latest Updates

The Taiwan dollar breaks through the 31.5 yuan barrier, and it is temporarily closed at 31.507 yuan at noon
(Photo by reporter Chen Meiying)

[Reporter Chen Meiying/Taipei Report]The Bank of Japan announced the bond purchase operation, which caused the yen to continue to fall. In addition, AI concept stocks weakened, and Taiwan stocks fluctuated. At noon, it temporarily closed at 31.507 yuan, depreciating by 7.7 cents, and the turnover of Taipei foreign exchange brokerage companies was 782 million US dollars.

After the Bank of Japan announced the relaxation of the cap on the yield rate last week, the Japanese 10-year bond yield soared, forcing the Bank of Japan to announce a new wave of bond purchases. Against 1 US dollar.

The depreciation of the Japanese yen and the strengthening of the U.S. dollar weakened the major Asian currencies. After the exchange rate of the New Taiwan dollar broke through 31.4 yuan yesterday, it broke through the 31.5 yuan mark shortly after the opening of the market this morning, and the lowest hit 31.52 yuan. The new low price of the month, because Taiwan stocks are also showing consolidation under the rise of AI concept stocks, the director of Huiyin believes that the slow depreciation trend of the Taiwan dollar remains unchanged, and the next level of the Taiwan dollar will be around the price of 31.8 yuan, and the consolidation of the Taiwan dollar is not ruled out The range moved down to 31.4 to 31.8 yuan.

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2023-08-01 04:17:57
#Taiwan #dollar #broke #yuan #threshold #temporarily #closed #yuan #noonFree #Finance #Economics

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