(Bloomberg) -- Taiwan's dollar had the biggest
weekly loss since January on speculation investors will buy U.S.
dollars to put money in higher-yielding assets overseas.
The island's currency weakened to the lowest in almost
three weeks as lawmakers on June 14 approved a proposal to allow
insurers to invest up to 45 percent of assets abroad from the
current 35 percent. Taiwan's benchmark interest rate is the
second lowest in Asia after Japan, encouraging local investors
to send money abroad to seek better returns.
Read more at Bloomberg Currencies News
weekly loss since January on speculation investors will buy U.S.
dollars to put money in higher-yielding assets overseas.
The island's currency weakened to the lowest in almost
three weeks as lawmakers on June 14 approved a proposal to allow
insurers to invest up to 45 percent of assets abroad from the
current 35 percent. Taiwan's benchmark interest rate is the
second lowest in Asia after Japan, encouraging local investors
to send money abroad to seek better returns.
Read more at Bloomberg Currencies News
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