TAIPEI (Taiwan News) — The Taiwan dollar is showing upward momentum again, rising more than NT$0.111 in early trading. 

The Taiwan dollar extended its May rally Monday, quickly gaining ground after the market opened. It broke through the key NT$30-to-US$1 threshold and hit a high of NT$29.912, per CNA. 

According to foreign exchange dealers, the US dollar remains weak, creating favorable conditions for Asian currencies to rebound. In addition, as the end of the month approaches, exporters are increasing foreign exchange sales, making the Taiwan dollar's advance unsurprising. 

However, they anticipate that the central bank will intervene when necessary to prevent market panic and a repeat of the disorder seen in early May. While Taiwan stocks opened lower and experienced some volatility, the Taiwan dollar continued its upward trend, opening at NT$30 and steadily appreciating to touch the NT$29 level.