I have heard for a while that the situation is going to get worse for other currencies. Does it make sense to buy US dollars now, and maybe buy with them some other currencies in the future?
Also, how is the TWD going to be affected by the US$ and the EUR?
The most accurate way of predicting future FX movements is to have a monkey throw darts.
I don’t have money for his services.
no idea the predictions, but the rate is very high for usd. It is a time I would sell it for NTD just based on the number and not taking into account geopolitics and everything that follows that side of it.
I used to buy it around 27~29 then hold onto it till i travel or sell when it hits 31+.
USD is very expensive and it is not the right time to buy. Although, it may go higher in the next year so if you need dollars might as well get them now.
That has been my ignorant opinion as well. I dont trade forex, but I have watched certain currencies over many years in Taiwan because export. USD is high to NTD now. As you say, bad investment perhaps, but if you want safety in a currency you can trade later, USD is still the standard.
Could rain could shine and it is hard to say.
I did not directly relate the question to the TWD. Yes, I do expect TWD may go down more in relation to USD. If you need your Taiwan money internationally you might as well change some to USD now.
There is also no real alternative to the dollar for many purposes.
One will need to think about their goalsas well. I end up investing anything extra in canada, so I put it back into CDN $ (it is very low now, good time to buy here). But if one is worried about keeping savings here based on geopolitics, I get the USD. or gold and other investments that are easily traded globally. or financial minded folks that have a plan and think USD is good for more than just margins on using Taiwan income to buy USD.
As a business, due to manufacturing being 100% within Taiwan now, we only quote in Taiwan dollars and give them a USD equivalent when needed. Big orders it is easy to lose money on varying exchange rates on quotes that are valid for weeks. People just need to think about their end goals. for me USD is only useful in terms of bribes if a war broke out here. otherwise, it’s an expense not an investment. But many have different angles and purposes.
The best time to buy US$ was like 8 months ago. You are very late.
Like almost 8+ months late, but the US Feds sound like they will continue to hike rate until inflation is at 2% or lower. They are very hawkish on this the last 2 months. Unless they pivot, it sounds like 2% inflation is the goal and hiking rate is their weapon to counter inflation. If you need USD now, buy now. Will probably just go up short term until early next year…see what the US and TW central banks will do next …
Goodluck
I need USD and I was thinking around midterms could be a good time to buy.
TWD will probably keep going down in relation to USD since Taiwan is not seriously raising rates, not in comparison to US Federal Reserve:
Does anybody follow Taiwan’s politics and economics? What is the stance here on raising rates?
The reason why I asked this wasn’t exactly because I wanted to use the US$ any time soon or because I thought the TWD-> USD conversion rate was especially good ATM, but because I heard that the types of interest and other policies in the USA are going to affect for the worst other currencies, and if that happens it would be good to have some USD to buy EUR or even TWD again.
Does it make any sense?
I think that makes sense, maybe, if you have USD now. If you are thinking TWD=>USD to do USD=>TWD later then I would say it is too late.
Scuttlebutt from the elder gangs of investors and stock sellers in the neighborhood had it from a shady source that USD will reach 35 NTD.
What reason would Taiwan have to raise interest rates?
Seems TW government wants their currency to have less value, because being an export economy it benefits exporters. Having a strong local currency is bad when most people here are paid in USD. Besides when TWD was strong it was not like the prices have ever gone down. Stuff like rent, etc. stayed the same.
Before Taiwan government was trying to devalue their currency.
Taiwan spent $8.25 bln to hold back currency depreciation in H1 | Reuters.
The bank said that for a long time, “large and frequent international capital movements” have posed a great challenge to the stability of the foreign exchange markets of small and open economies, affecting financial stability and prices.
Great currency devaluation and flight of capital could tank Taiwan’s stock market.
Hello! I would like to ask for your insights. Would now be a good time to buy US dollars here in Taiwan?