Taiwan’s Dollar Has Best Week Since April on ECB; Bonds Decline

Taiwan’s dollar had the best week since April after the European Central Bank unveiled a bond-buying plan to contain the euro zone’s debt crisis, boosting demand for riskier assets.

ECB President Mario Draghi said policy makers agreed to an unlimited securities-purchase program to reduce interest rates for struggling nations and fight speculation of a breakup of the euro. Taiwan’s exports fell 4.2 percent in August from a year earlier, a sixth month of declines, official data showed toward the end of currency trading today. Government bonds fell the most in a month.