New Taiwan Dollar Depreciates by 1.05 Cents, Closes at 31.65

Taipei, May 19 (CNA) The New Taiwan Dollar (NTD) closed at 31.65 against the US dollar in the Taipei foreign exchange market today, experiencing a significant depreciation of 1.05 cents. The total trading volume reached 2.156 billion US dollars. The NTD opened at 31.57 against the US dollar today, with an intraday high of 31.53 and a low of 31.674. This movement reflects current market dynamics and investor sentiment regarding the currency's valuation. The depreciation could have implications for various sectors of the Taiwanese economy, including import and export businesses, potentially affecting their operational costs and revenues. Analysts will be closely watching for further trends in the coming days.