Taipei, Jan. 27 (CNA) The U.S. dollar rose against the New Taiwan dollar Thursday, gaining NT$0.01 to close at the day's high of NT$29.310 after further intervention by the central bank to boost the greenback's value, dealers said.
Turnover totaled US$905 million during the trading session.
The U.S. currency opened at NT$29.300 and moved to a low of NT$29.030 before rebounding.
Rising fund demand from exporters with the Lunar New Year holiday approaching imposed selling of the U.S. dollar in exchange for the New Taiwan dollar right after the market opened, the dealers said.
Consolidation of other Asian currencies and the euro in the regional markets gave little indication as to the movements of the local foreign exchange market as the U.S. Federal Reserve left its key interest rates unchanged overnight, they said.
However, the gains posted by the local bourse to push the index above the latest technical resistance of around 9,100 points added downward pressure on the U.S. dollar against the New Taiwan dollar, they added.
The benchmark weighted index closed up 0.51 percent at 9,102.33, led by the bellwether high-tech sector.
Dealers said the U.S. dollar saw strong support at around NT$29.00, a level the central bank has made great efforts to maintain in a bid to protect Taiwan's exports. (By Kao Chao-fen and Frances Huang) ENDITEM/J
