The New Taiwan dollar keeps depreciating! It dropped 1.44 cents in early trading and broke through 32.9 yuan. 33 yuan is just around the corner.

The New Taiwan dollar keeps depreciating! It fell below 32.9 yuan in early trading, approaching the integer mark of 33 yuan. (Photo by reporter Chen Meiying)

[Reporter Chen Meiying/Report from Taipei] After the U.S. midterm elections, uncertainty has been eliminated and the US dollar has fallen. However, the market’s doubts about the return of AI investment have not disappeared, and the correction pressure on technology stocks is still ongoing. Taiwan stocks were once in early trading Falling below 42,000 points, foreign hot money continues to be remitted. The exchange rate of the New Taiwan dollar against the U.S. dollar broke through 32.9 yuan, dropped to a minimum of 32.965 yuan, and dropped 1.44 cents. The round number mark of 33 yuan is just around the corner.

The New Taiwan dollar exchange rate opened at 32.84 yuan this morning, a depreciation of 1.9 cents. The decline subsequently expanded. So far, it has hit an intraday low of 32.965 yuan, a new low since April 10, 2025. The previous low was 33.1 yuan on April 9 last year.

Huiyin people pointed out that after the Democratic Party gained control of the Senate and the House of Representatives in the mid-term elections, the market was initially worried about policy deadlock and AI regulation. Asian stock markets and U.S. stock futures fell first; then investors turned to look to Congress to check and balance Trump's policies. The major U.S. stock indexes rebounded, with the Dow Jones, S&P, and Nasdaq simultaneously closing in the red. U.S. bond yields and the U.S. dollar both fell, but the Federal Reserve Index still closed in the black, and Asian technology stocks were still under pressure.

Huiyin people believe that although the weakening of the US dollar will help reduce the depreciation pressure of the New Taiwan dollar, the key to the current dominance of the exchange rate is still the movement of foreign capital. In the future, it will be necessary to observe whether AI and semiconductor stocks can stop their decline, and whether the force of foreign stock selling and remittances has converged, which is expected to alleviate the pressure of both stocks and foreign exchange falling.

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