Ikon Group – The forex rate of USD against new Taiwan currency slightly went down to around 32.105 on Wednesday July 21, and the close quotation of the previous night was 32.155 in the forex market.
However, most of the time on Tuesday, this forex price was basically maintained at around 32.120. A forex dealer in a local bank in Taiwan said the suspected buying of the USD against new Taiwan currency at the close order in the central bank in Taiwan province pushed the forex price up to 32.155.
This forex dealer said early in the forex market, the affection of the surging trend in the Taiwan stock market was counterbalanced by the part of the USD buying which was coming from the foreign banks. This forex dealer predicted the forex rate of USD against new Taiwan currency would be maintained at a narrow range of 32.070 to 32.150 in the forex market, and the direction of the forex trading would be determined by the real capital flow in the forex market.
The forex rate of USD against new Taiwan currency was 32.105/110 at 09:46 Beijing time.
Edited by laura in Ikon Group.