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Dollar slips as Taiwan dollar surge sparks revaluation talk

  • The New Taiwan dollar surged sharply on May 5, 2025, trading at NT$29.7 against the US dollar on the Taipei Foreign Exchange by 10 a.m.
  • The rise followed a 3.07 percent gain on Friday and a NT$1.364 increase from the previous close last week, driven by strong market factors.
  • The NT dollar peaked at NT$31.064 by close and its strength caused heavy demand for currency exchange that overwhelmed online banking systems this morning.
  • Cathay United Bank notified users of five-minute login waits, while Taishin Bank reported temporary system unavailability due to app traffic exceeding capacity.
  • The continued NT dollar strength suggests growing investor confidence but also presents challenges for banking infrastructure during peak exchange activity.
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Taipei Times broke the news in Taipei, Taiwan on Sunday, May 4, 2025.
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