(Bloomberg) -- Taiwan's dollar weakened to the
lowest in almost three weeks on speculation investors will buy
U.S. dollars to put money in higher-yielding assets overseas.
The island's currency headed for the biggest weekly loss
since March as lawmakers yesterday approved a proposal to allow
insurers to invest up to 45 percent of assets abroad from the
current 35 percent. Taiwan's benchmark interest rate is the
second lowest in Asia after Japan, encouraging local investors
to send money abroad to seek better returns.
Read more at Bloomberg Currencies News
lowest in almost three weeks on speculation investors will buy
U.S. dollars to put money in higher-yielding assets overseas.
The island's currency headed for the biggest weekly loss
since March as lawmakers yesterday approved a proposal to allow
insurers to invest up to 45 percent of assets abroad from the
current 35 percent. Taiwan's benchmark interest rate is the
second lowest in Asia after Japan, encouraging local investors
to send money abroad to seek better returns.
Read more at Bloomberg Currencies News
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