(Bloomberg) -- Taiwan's dollar had the strongest
close in almost three weeks on speculation the central bank will
buy the currency to stem losses after it reached a 17-month low
this week.
The currency posted its biggest weekly gain since the five
days ended Dec. 1 after the Economic Daily News, citing
unidentified traders, today said the central bank is stepping up
oversight of overseas mutual funds to slow the Taiwan dollar's
decline. A weaker currency adds to inflation by making imported
goods more expensive.
Read more at Bloomberg Currencies News
close in almost three weeks on speculation the central bank will
buy the currency to stem losses after it reached a 17-month low
this week.
The currency posted its biggest weekly gain since the five
days ended Dec. 1 after the Economic Daily News, citing
unidentified traders, today said the central bank is stepping up
oversight of overseas mutual funds to slow the Taiwan dollar's
decline. A weaker currency adds to inflation by making imported
goods more expensive.
Read more at Bloomberg Currencies News
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