Taiwan Dollar Gains, Will Government Intervene?

The Taiwan dollar rose today as the foreign capital inflows and the rapid economic growth in Asia bolstered the attractiveness for the currency.

Previously the Taiwan dollar fell from the highest level in 13 years on the speculation that the government may intervene to slow the currency’s appreciation. The intervention may yet happen and there are rumors that the government already sold the currency to curb the gains. For now, the Taiwan dollar remains the best-performing Asian currency this quarter.

USD/TWD dropped from 30.0120 to 29.8820 as of 13:00 GMT today after reaching the intraday high of 30.0500

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