InfoAnda - Taiwan dollar down nearly 2 pct on c.bank, stocks

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Taiwan dollar down nearly 2 pct on c.bank, stocks Reuters - 27 minutes ago TAIPEI, Dec 22 - The Taiwan dollar extended losses to trade nearly 2 percent lower on Monday as the central bank actively bought U.S. dollars due to worries over a slowing economy, dealers said. The Taiwan dollar <TWD=TP> fell to as low as T$33.100 to the U.S. dollar, or 1.8 percent below Friday's close of T$32.530. "The central bank kept buying U.S. dollars. It seems like the central bank is trying to help Taiwan's exporters by letting the Taiwan dollar weaken. We also saw offshore NDF dealers buying U.S. dollars," said a dealer in Taipei. Dealers said falling Taiwan stocks also dampened sentiment and prompted foreign institutions to sell the local currency. Taiwan stocks <.TWII> ended 3.4 percent lower with Taiwan's largest electronics parts maker, Hon Hai <2317.TW>, leading losses after its chairman said the company planned to cut its workforce due to the global downturn. In the non-deliverable forwards market, six-month NDFs were quoted at -0.280/-0.230 to the U.S. dollar, compared with -0.370/-0.320 on Friday, indicating that the Taiwan dollar will probably gain by a much smaller degree in half a year. (Reporting by Yvette Chen and Lee Chyen Yee; Editing by Jonathan Hopfner) Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Ireland unveils euro5.5 billion bank bailoutAP - 27 minutes ago Russian rouble weakens vs dlr/euro basketReuters - 30 minutes ago Asian markets lower amid bleak global economic outlookAFP - 32 minutes ago China says firms can reduce social security payments: state mediaAFP - 34 minutes ago Takeda starts Japan Phase III trials for obesity drugReuters - 35 minutes ago Most Popular – Business Viewed Global economy seen sinking into 'severe' 2009 recession: report Let poor eat caviar: Milan authorities New Year's hangover? Take two eels and call me in the morning Actress Jennifer Aniston appears naked in GQ magazine Putin warns against any attempt to destabilize Russia View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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