The Taiwan dollar ended flat on Monday as US dollar demand from importers and some foreign institutions was roughly offset by the central bank selling US dollars. The Taiwan dollar ended unchanged from Friday's close of T$32.965 after opening stronger at T$32.935.
Volume on the main Taipei Forex Inc exchange was US $668 million, lower than US $828 million on Friday. "Foreign institutions were net sellers in the stock market, causing some outflows," said a dealer in Taipei.
Another dealer said the central bank and a major foreign bank were selling US dollars just before the market close, which led to the Taiwan dollar finishing flat. Earlier in the day, importers, such as oil firms, usually need US dollars to purchase crude overseas.
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