Taiwan dollar hits 27-month high

The Taiwan dollar hit a 27-month closing high on Thursday,tracking gains in regional currencies as fund flows chased yield,but central bank intervention pared its gains from earlier higher levels.

Taiwan’s central bank has intervened in the market heavily in recent sessions as a surge in recent sessions threatened to hurt exporters.

The local currency ended up T$0.09,or 0.289 per cent to T$31.042,its highest level since early August 2008,after being pulled back from a day high of T$30.675 or almost a 1.5 per cent gain.