Taiwan dollar surges to six-week high on weak greenback

Taiwan FlagTaipei - The Taiwan dollar surged to a six-week high of 32.72 to the US dollar Wednesday, in response to the US Federal Reserve's cut of the interest rates, dealers said.

The local currency opened firm at 33.03 against the US dollar, and continued its strength to end at 32.72, up 0.31 Taiwan dollars or 1 per cent, compared with Tuesday's close of 33.050.

Wednesday's level was the highest since the local currency closed at 33.030 against the US dollar on November 5. (dpa)

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