The NT has depreciated by 30 cents vs. the US dollar so far this month, weakening to 32.2 NT per US dollar on Thursday and holding firmly above 32 since then.
Analysts say this was inevitable given continuing tensions in the Middle East, an ongoing correction in the local stock market and the arrival of peak dividend season.
As of July 9th, the NT has depreciated by 3.2 percent against the greenback.
That was the day that TSMC issued its latest dividend, marked by significantly increased capital outflows, as foreign investors repatriated their distributions ... putting pressure on the foreign exchange market.
Cathay United Bank analyst Lin Qi-chao (林啟超) says TSMC's earnings announcement will be in focus next week. Positive news could re-ignite confidence in the broader stock market.
Customer Service Hotline: 02-8522-7177 | Email: icrtclub@icrt.com.tw Customer Service Hours: Monday-Friday 10AM-6PM nternational Community Radio Taipei 19-5F, No. 5, Sec. 3, New Taipei Blvd., Xinzhuang Dist., New Taipei City 24250