Latest news with #exporters
Wall Street Journal
a day ago
- Business
- Wall Street Journal
Taiwan Dollar Strength Spells Trouble for Tech Exporters, Insurers
Another flare-up in the Taiwan dollar's strength is unwelcome news for the island's exporters and life insurers. The New Taiwan dollar hit a three-year high against the greenback on Friday, bringing year-to-date gains to around 12%. It was last changing hands at 29.01 to the U.S. dollar, hovering at a key psychological level.
Bloomberg
a day ago
- Business
- Bloomberg
Taiwan Dollar Rises Past 29 Per Greenback for the First Time Since 2022
The Taiwan dollar climbed to the strongest in more than three years against the greenback, pressuring the island's export reliant economy and life insurers with large foreign-exchange exposures. The currency climbed about 0.5% to 28.978 US dollar on Friday, its strongest against the greenback since April 2022. The move pushes the Taiwan dollar's rally this year to 13%, Asia's best performer.
Bloomberg
2 days ago
- Business
- Bloomberg
Taiwan Dollar Hits Three-Year High on Fund Inflows, Repatriation
Taiwan's dollar rallied to its strongest in three years amid inflows to its stock market and broad-based weakness in the greenback. The local currency gained as much as 0.7%, outperforming almost all of its Asian peers, to 29.15 per US dollar on Thursday. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, according to two traders, who asked not to be identified as they weren't authorized to speak publicly.
Yahoo
3 days ago
- Business
- Yahoo
India cenbank sold net $1.66 billion in spot forex market in April, bulletin shows
MUMBAI (Reuters) -The Reserve Bank of India (RBI) sold a net of $1.66 billion in the spot foreign exchange market in April, data released on Wednesday as part of the central bank's monthly bulletin showed. The RBI said it purchased $10.11 billion and sold $11.77 billion during the month. In March, the central bank had bought a net of $14.36 billion in the spot market. The Indian rupee braved multiple headwinds in April including U.S. trade policy flip-flops and an India-Pakistan conflict to come out stronger on the back of inflows into equities and as exporters ramped up dollar sales. The currency gained 1.2% in April, its second consecutive monthly rise, helping extend a reversal in its fortunes after hitting an all-time low of 87.95 in February. The RBI's net outstanding forward sale stood at $72.6 billion as of end-April, compared with a net sale of $84.35 billion at the end of the previous month, the data showed. The central bank intervenes in the spot and forwards market to curb exchange rate volatility. The rupee closed at 86.0775 per U.S. dollar on Wednesday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Russia Today
3 days ago
- Automotive
- Russia Today
German export outlook slips on trade fears
Expectations have worsened among German exporters in June due to uncertainty regarding US tariffs, according to a survey conducted by the Ifo economic institute. Earlier this year, US President Trump imposed 20% tariffs on EU goods and 25% duties on steel, aluminum, and cars. Brussels prepared retaliation, but most of the new levies were paused for 90 days to allow talks. A 10% base tariff and targeted 25% duties remain unchanged. 'The tariff threats from the US are still on the table. An agreement between the EU and the US has yet to be reached,' Klaus Wohlrabe, head of Ifo surveys, said in a statement on Wednesday. 'This uncertainty is lowering exporters' expectations.' According to the report, the mood among export companies has 'clouded over,' with the export expectations index falling to -7.4 points in June from -5.0 in May. The index measures how optimistic or pessimistic German manufacturing companies are about their prospects for selling abroad over the next three months. The trade barriers have raised concerns in German industry, especially the automotive sector, which is grappling with declining sales, growing competition from China, and the shift to e-mobility. Carmakers worry that tariffs could damage their vital export business. 'Companies fear that the growing protectionism around the world will increasingly hamper international trade,' said Wohlrabe. The decline was most noticeable in the chemical and automotive sectors, where expectations turned significantly negative, the report said. The US was Germany's top trading partner in 2024, with bilateral goods trade totaling €253 billion (around $280 billion), according to official data. In the first quarter of 2025, the country recorded a €17.7 billion trade surplus with the US—the highest among all its partners. This underscores the potential impact of US tariffs. Experts say the uncertainty has led German companies to delay investments, contributing to the shift in export projections. The new figures add to signs that the EU's largest economy is struggling to build momentum after slipping into a recession last year. Although German GDP grew slightly (by 0.2%) in the first quarter of 2025, weak global demand and uncertainty in trade policy continue to weigh on its economy. The report follows a grim forecast from the IMF, which also cut Germany's 2025 growth outlook to zero, predicting it will be the only G7 economy to stagnate this year as its export-driven industries are especially vulnerable to global trade tensions.
