The Taiwan dollar weakened for a fourth straight session on Monday as oil firms and some foreign funds bought US dollars, though exporters and expectations of another rate rise this week kept the trading range small. The Taiwan dollar finished weaker at T$30.401 to the US dollar from Friday's finish of T$30.382.
Volume on the main Taipei Forex Inc exchange was $722 million, lower than $967 million a day earlier. "Foreign funds were buying US dollars, but exporters were selling. Volumes are really low today as some investors were sidelined before the central bank meeting on Thursday," said a dealer in Taipei. Foreign institutions sold a net T$3.557 billion ($117 million) in Taiwan stocks, which fell 0.33 percent on Monday, leading to some outflows. Oil deals also pressured the Taiwan dollar during the session.
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