(Bloomberg) -- Taiwan's dollar strengthened in May to
touch the highest in almost three months as the central bank said
mutual funds should invest more in local stocks rather than
abroad.
The currency had its first monthly rally since November on
speculation the central bank will buy its dollar to curb losses
after it last week had the lowest close since December 2005.
Interest rates, among the lowest in the region, helped send the
currency down 1.3 percent this year.
Read more at Bloomberg Currencies News
touch the highest in almost three months as the central bank said
mutual funds should invest more in local stocks rather than
abroad.
The currency had its first monthly rally since November on
speculation the central bank will buy its dollar to curb losses
after it last week had the lowest close since December 2005.
Interest rates, among the lowest in the region, helped send the
currency down 1.3 percent this year.
Read more at Bloomberg Currencies News
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