The Taiwan dollar rose to a 20-month high on Tuesday as investors in the non-deliverable forwards market and some exporters sold US dollars hours before a week-long Lunar New Year break. The Taiwan dollar rose to as high as T$31.994 to the US dollar, the strongest intraday level since June 5, 2006, when the day's peak was T$31.958.
It closed at T$32.010, the highest since posting a final price of T$31.992 on May 23, 2006. Taiwan's forex market will be closed on Wednesday through February 11 for the Lunar New Year break.