Stock exchange double kill! The New Taiwan dollar depreciated by 1.68 cents to close at 32.76 yuan, hitting a 1.5-year low.

The New Taiwan dollar closed at 32.76 yuan today, down 1.68 cents, and the exchange rate hit a 1.5-year low. (File photo)

[Reporter Zheng Qifang/Report from Taipei] Concerns over the realization of AI have not disappeared, U.S. technology stocks have plummeted, and Taiwan stocks also closed down 1,612.6 points today, falling below 44,000 points. Foreign investors continued to sell more than 100 billion yuan; with the large-scale remittance of foreign capital, the New Taiwan dollar exchange rate opened lower and fell as much as 2.68 during the session. NT$, broke through the 32.8 yuan mark, reaching the lowest level of 32.86 yuan per US dollar. In late trading, the central bank stepped in to adjust, and the decline in the New Taiwan dollar converged. Finally, it closed at 32.76 yuan, down 1.68 cents again. The exchange rate hit a 1-and-a-half-year low. The trading volume of Taipei Foreign Exchange Brokerage Company was 3.938 billion US dollars.

Foreign exchange traders said that despite market rumors that the central bank has relaxed foreign exchange selling limits for exporters, U.S. technology stocks have plummeted in recent days, and as the market waits to watch the U.S. midterm elections, Taiwan stocks closed down 1,612.6 points today, the seventh largest drop in history. Foreign investors sold more than 107.306 billion yuan, the eighth largest amount in history. After the New Taiwan Dollar opened at 32.61 yuan this morning, it fluctuated around the price of 32.7 yuan in early trading. As the decline in Taiwan stocks intensified, the decline of the New Taiwan Dollar expanded, and fell below the price of 32.8 yuan in the afternoon. It reached an intraday low of 32.86 yuan and once dropped 2.68 cents. However, the central bank once again entered the market to adjust in late trading, and the decline of the New Taiwan Dollar converged, and finally fell 1.68 cents.

Foreign exchange traders pointed out that the Taiwan stock market's decline in consecutive days has dragged down the exchange rate performance. In addition, the market is waiting to see the results of the U.S. midterm elections and the financial performance of major U.S. technology companies. The financial market continues to be volatile. Foreign investment movements affect the performance of the New Taiwan dollar. The short-term trend of the New Taiwan dollar is expected to be weak.