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N.T. Dollar and Stock Market Rally on Influx of Hot Money.
(From Taiwan Economic News)
Taipei, May 9, 2006 (CENS)--Along with the comprehensive upturn of Asian currencies, a result of the massive flow of hot money from the U.S. back to the region, the New Taiwan dollar jumped NT$0.266 against the U.S. dollar yesterday (May 8), breaking the US$1=NT$31.4 mark and closing at US$1=NT$31.38, the highest in the recent 10 months. The strong performance of both the forex and stock markets on the massive influx of hot money has kept the Central Bank of China (CBC) on high alert. A forex-department head of a local bank attributed the steep rise of the N.T. dollar recently to the influx of hot money and overall trend of the region's …
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