Monday, May 28, 2007

Taiwan Dollar Rises as Central Bank May Buy; Indonesian Rupiah Advances

(Bloomberg) -- Taiwan's dollar strengthened to a
five-week high on speculation the island's central bank will
purchase the currency to curb declines.

A slide in the Taiwan dollar last week to a 17-month low
increased the cost of imports, adding to inflation. A weakening
currency may also encourage some investors to take funds out as
the value of their securities is eroded. The local dollar is the
second-worst performer after the Japanese yen among the world's
16 most-traded currencies this year.


Read more at Bloomberg Currencies News

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