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Taiwan currency surges past NT$29 to the US dollar

NT dollar at strongest level since Central Bank Governor Yang took office in 2018

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NT$28.096 for US$1 on Taiwan's foreign exchange market Tuesday 

NT$28.096 for US$1 on Taiwan's foreign exchange market Tuesday  (CNA photo)

TAIPEI (Taiwan News) — The exchange rate for the New Taiwan dollar on Tuesday (Oct. 6) surged past the NT$29 mark to reach its highest value since Central Bank Governor Yang Chin-long (楊金龍) took office more than two years ago.

The value of the country’s currency rose by NT$0.06 to close at NT$28.96 for US$1 for the day, CNA reported. Total turnover amounted to US$1.162 billion.

Tuesday’s closing figure was the strongest level for the New Taiwan dollar since Yang took office in Feb. 2018. As a result, reporters and analysts have described NT$29 as the “Yang Chin-long line,” even though the Central Bank governor never indicated he would take any action to push the Taiwanese currency back down.


Updated : 2021-03-09 00:05 GMT+08:00