Taiwan's New Taiwan Dollar Rockets: A Currency Surge Unstoppable!

The New Taiwan Dollar Breaks Barriers, Reaching Levels Not Seen in Years. What's Driving This Dramatic Ascent?

The New Taiwan Dollar (NTD) has experienced a stunning rally, surging through key psychological levels in a display of remarkable strength. The NTD's appreciation is akin to a "runaway train", continuously gaining ground.

On a recent trading day, the NTD's exchange rate began the day with a swift ascent, breaching both the 31 and 30 mark, as if they weren't there. By mid-morning, the NTD had appreciated by over 1.1474 NTD, reaching a high of 29.59. This represents the strongest level since June 2022, a period of nearly three years.

The preceding Friday saw a remarkable surge, with the NTD strengthening by 1.247 NTD during the day, a phenomenon unseen in nearly fifteen years. Although the Central Bank intervened near the end of the trading session to manage the rise, keeping the rate above 31, the NTD still closed at 31.064, a rise of 9.53 tenths. This marked the fifth consecutive day of gains and the highest point in approximately eighteen months.