Taiwan's currency weakened for a second session Tuesday, with the exchange rate reaching NT$32.617 per U.S. dollar at the close, meaning buyers needed more local currency for each dollar.
The quote was NT$0.172 above the Oct. 19 close of NT$32.445, Central Bank of the Republic of China (Taiwan) data show. Because the rate counts Taiwan dollars per U.S. dollar, a higher figure indicates a weaker local currency.
Central News Agency (CNA) reported that the rate opened at NT$32.480 and reached NT$32.672 during the session. Turnover totaled US$3.277 billion, CNA reported. The close followed an earlier rise covered in EconoTimes' morning update on the Taiwan dollar, when the U.S. dollar reached NT$32.575.
From Oct. 12 to Oct. 16, foreign investors sold a net US$19.402 billion in Taiwanese shares and remitted a net US$17.961 billion out of Taiwan, the central bank said. In discussing that earlier week's depreciation, the bank cited global stock-market volatility, foreign share sales and dividend remittances. It also pointed to concerns about AI-stock valuations and financing risk.
Taiwan's Ministry of Economic Affairs is scheduled to release September industrial production data Friday, Oct. 23.
