The Taiwan dollar weakened on Friday due to foreign fund outflows as local stocks fell and oil firms bought US dollars. The Taiwan dollar ended weaker at T$32.980 to the US dollar from the previous close of T$32.945. Volume on the main Taipei Forex Inc exchange was thin at US $590 million, lower than US $695 million a day earlier.
"Oil firms were buying US dollars today and there were small amounts of foreign fund outflows," said a dealer in Taipei. "Investment trusts haven't been investing a lot overseas because of the problems in the US subprime sector."
Comments
Comments are closed.