The currency rose as much as 0.2 percent earlier after the government reported yesterday exports climbed 11.7 percent in October from a year earlier, compared with a 9.9 percent increase the previous month. The median of 13 estimates in a Bloomberg survey of economists was for a 5 percent gain. A parliamentary vote today in Italy, where borrowing costs have surged, will show whether Prime Minister Silvio Berlusconi has enough support to stay in power and implement austerity measures.
“Italy is a much bigger economy and a bigger threat to the euro zone than Greece,” said Frances Cheung, a Hong Kong-based strategist at Credit Agricole CIB. “Not only Taiwan, but other Asian countries’ exports will also be disrupted by Thailand’s floods.”
Taiwan’s dollar closed little changed at NT$30.106 against its U.S. counterpart, according to Taipei Forex Inc. The yield on the 2 percent bonds due July 2016, the most-traded government securities, was little changed at 1.04 percent, prices from Gretai Securities Market show.
Consumer prices rose 1.22 percent in October from a year earlier, compared with a revised 1.37 percent the previous month, data showed yesterday. The median forecast in a Bloomberg survey was for a 1.34 percent increase.
The overnight money-market rate, which measures interbank funding availability, was steady at 0.397 percent, according to a weighted average compiled by the Taiwan Interbank Money Center.
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