TAIPEI -- Taiwan's tech supply chain is bracing as the local currency surges in value against the greenback, just as President Lai Ching-te's administration negotiates to lower the U.S. "reciprocal" tariff on the trade-reliant economy.
The New Taiwan dollar jumped to NT$29.59 against the U.S. dollar at one point during Monday morning trading, up 4.2% from NT$30.91 at 9 a.m. local time. This marks the second trading day in a row that Taiwan's currency has appreciated sharply: It had strengthened around 3% to NT$31.064 on Friday, the largest single-day rise in more than three decades.
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