Strongest Taiwan Dollar Since ‘97 Shows Central Bank Easing Grip
- Local currency closes Friday at 28.521 versus the greenback
- Analysts say they expect the currency’s strength to persist
Photographer: Ashley Pon/Bloomberg
This article is for subscribers only.
The Taiwan dollar closed at its highest level since 1997, and more gains are likely on the way as the central bank eases its grip on the currency.
The local dollar gained 0.5% to 28.521 per greenback at the close Friday, stronger than its 28.632 high in 2011. The currency rose 1% over the past five sessions, advancing for a fifth week, the longest run since July.