Slowing GDP Growth Hurts Taiwan Dollar
The Taiwan dollar weakened today after data showed that the first quarter’s growth of the country’s economy was slower than analysts have anticipated.
Taiwan gross domestic product expanded 1.54 percent in the first quarter of 2013. The increase trailed the forecast of 3.1 percent and the advance of 3.72 percent in the previous three months. The slowing growth led to concerns that the global economic slowdown will continue to harm emerging economies, reducing demand for their assets.
USD/TWD rose from 29.4470 to 29.5345 as of 9:16 GMT today.
If you have any questions, comments or opinions regarding the Taiwan Dollar, feel free to post them using the commentary form below.
Earlier News About the Taiwan Dollar:
- Taiwan Dollar Falls Yen in Decline (2013-04-22)
- Taiwan Dollar Advances on Hopes for Stimulus (2012-12-26)
- Taiwan Dollar Fluctuates, Will Central Bank Allow Currency Appreciate? (2012-05-09)
- Taiwan Dollar Tumbles with Stock Index (2011-02-11)
- Taiwan Dollar Gains on Anticipation of Rates Hike (2010-12-27)