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| Taiwan dollar up on exporter deals in thin trade |
| 08-FEB-2010 Intellasia | Reuters |
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| 8 Feb, 2010 - 7:00:00 AM |
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The Taiwan dollar rose in early trade on Saturday, helped by exporters looking to sell the greenback ahead of the week-long Lunar New Year holidays and defying a fall in the local stock market.
Taiwan's foreign exchange and equities markets are open on Saturday to make up for an additional holiday on Feb 19 during the New Year holidays.
"Trade is really thin and there're just a few exporter deals coming through," said a dealer in a local bank. "We're all just waiting to see if the central bank intervenes near the end of trade."
The local stock market fell over 1 percent to a five-month low in morning trade on Saturday on growing investor anxiety of fiscal problems in Europe.
Taiwan's central bank manages the Taiwan dollar in a controlled float, and sometimes steps in to intervene in trade by buying or selling the local currency to pare fluctuations it deems excessive.
http://asia.news.yahoo.com/rtrs/20100206/tbs-markets-taiwan-currency-b8dd11d.html
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