The New Taiwan Dollar depreciated today, contrary to expectations, with UBS predicting a target price of 30 by the end of the year.The Central Bank of Taiwan announced last Friday that it has reached a consensus with the U.S. Treasury on exchange rate policy, greatly increasing expectations for the appreciation of the New Taiwan Dollar. The USD to TWD exchange rate briefly touched 31.024 this morning before rebounding, closing at 31.159 at noon, which is an increase of 0.03% compared to last Friday's closing price. However, the current NDF market discount is extremely deep, and UBS expects the target price for the TWD at the end of the year to be 30.
( Joint Statement on the Exchange Rate between Taiwan and the United States: The central bank emphasizes that it is not involved in tariff negotiations, and the appreciation of the New Taiwan Dollar is not a request from the U.S. side )
Taiwan-US exchange rate agreement, expectations for TWD appreciation rise again
The Central Bank of Taiwan announced last Friday that it has reached a consensus with the U.S. Treasury on exchange rate policy. Starting from the end of December, the central bank will increase the frequency of disclosure of foreign exchange market intervention information from once every six months to once every quarter, in order to enhance policy transparency and international trust.
Central Bank
ChainNewsAbmedia·34m ago