The Taiwan dollar fell on Monday after the yen lost ground as investors sold the low-yielding currency, but recent efforts by Taiwan's central bank to curb the local currency's weakness kept trade thin. The Taiwan dollar closed at T$33.009 to the US dollar from the previous close of T$32.990. It had opened stronger at T$32.970.
Volume on the main Taipei Forex Inc exchange was thin at US $617 million, down from a hefty T$1.024 billion on Friday. "There isn't much direction today. Importers and exporters more or less levelled out, while investors are still a little careful as the central bank had tried to keep the Taiwan dollar firmer than T$33," said a dealer in Taipei. The Japanese yen flat to 121.67-69 to the USD from 121.22-27 as the market warmed up to riskier, yen-selling trades.