The Taiwan dollar closed firmer on Monday as a rally in the stock market sparked demand for the local currency from foreign fund managers, though high oil prices could limit further gains, dealers said.
The Taiwan dollar strengthened T$0.064 to close at T$33.876 against the US dollar, from Friday's T$33.940, with volume rising to US $530 million from US $413 million.
"There was strong demand from foreign funds, fuelled by stocks that rose by more than 2 percent," said a dealer in Taipei.