Exchange Rate in Taiwan
Taiwan - Exchange Rate
TWD falls to fresh six-year low in September
On 28 September, the New Taiwan Dollar fell to a fresh six-year low, closing the day at 33.2 TWD per USD. The figure represented a 2.5% depreciation over the same day of the previous month and a 9.3% depreciation over the same day of last year. The currency’s decline in value comes against a backdrop of a slumping economy and the Central Bank’s decision on 24 September to cut the discount rate for the first time in six years. In addition, a slowdown in China—the island’s largest trading partner—is contributing to depreciation pressures on the currency.
Since hitting the record low, the TWD has appreciated slightly in recent weeks. On 9 October, the currency closed the day at 32.3 TWD per USD, which represented a 0.6% appreciation over the same day of the previous month but still marked a notable 6.3% depreciation over the same day last year.
FocusEconomics Consensus Forecast panellists expect the TWD to end this year at 33.5 per USD. For 2016, the panel projects the TWD to trade at 34.5 per USD.
Taiwan - Exchange Rate Data
|Exchange Rate (vs USD)||29.83||31.63||32.83||32.45||29.67|
5 years of economic forecasts for more than 30 economic indicators.
Taiwan Exchange Rate Chart
Source: Thomson Reuters.
|Bond Yield||0.68||1.28 %||Sep 04|
|Exchange Rate||31.27||0.07 %||Sep 04|
|Stock Market||10,657||0.37 %||Sep 04|
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September 9, 2019
Merchandise exports grew 2.6% in August compared to the same month a year earlier, contrasting the 0.5% fall in July.
September 6, 2019
Consumer prices fell 0.02% in August from the previous month, after falling a revised 0.12% in July (previously reported: -0.10% month-on-month).
September 2, 2019
The manufacturing Purchasing Managers’ Index (PMI), reported by IHS Markit, fell to 47.9 in August from 48.1 in July, and remained below the 50-point threshold that separates contraction from expansion for the eleventh month running. Manufacturers struggled in August as new work orders fell substantially in the month and exports fell at the fastest pace in over four years; on the back of this, output decreased at a quicker clip than in July.
August 23, 2019
Industrial output increased 3.0% in July from the same month last year, contrasting the revised 0.5% decrease in June (previously reported: -0.4% year-on-year). Output in the manufacturing sector—which represents more than 90% of total industrial production—rose 3.1% in July, contrasting the 0.8% dip in June.
August 7, 2019
Merchandise exports decreased 0.5% in July compared to the same month a year earlier, contrasting the 0.5% increase in June.