dlr

16:50 30Jun09 RTRS-Taiwan dollar hits near 3-wk high on exporters * Taiwan dollar firms on stocks, exporter deals * Taiwan central bank sells currency to keep it steady * Taiwan dollar seen at T$32.50-T$33.00 in near term (Updates to close) TAIPEI, June 30 (Reuters) - The Taiwan dollar strengthened on Tuesday to a near three-week closing high, helped by exporters' deals and advances in local stocks, but gains were capped as the central bank intervened by selling the currency. "More exporters entered the market in the afternoon after the Taiwan dollar firmed above T$32.850," said a dealer in Taipei. Exporters, who prefer a weaker Taiwan dollar so they can convert their U.S. dollar earnings into more of the currency, usually trade for more Taiwan dollars near the end of each month and quarter for cash needs at home. "There were some foreign fund inflows. The Taiwan dollar was also propped up by the U.S. dollar selling in the NDF market," said the dealer. The currency could trade between T$32.50 and T$33.00 in the near term, dealers said. Taiwan stocks <.TWII> closed up 0.64 percent on Tuesday and logged their best quarterly gain since 2001, with foreign investors loading a net T$7.8 billion ($238 million) worth of local shares. Despite the rise in the Taiwan dollar, Taiwan's central bank sold a significant amount of the currency during the session in a bid to keep the gains in check and help exporters, another dealer said. 0800 GMT PREVIOUS DAY T$ (Taipei Forex Inc) 32.818 32.943 (close) Volume in $ mln (Taipei Forex Inc) 1,099 584 (close) T$ (Cosmos) 32.801 32.942 (close) Six-month NDFs -0.780/-0.740 -0.480/-0.430 Note: Taipei Forex Inc is Taiwan's main forex exchange; Cosmos is a smaller exchange Source: NDFs quotations from Prebon Asia For more foreign exchange news, please click [nTOPFRX] (Reporting by Gina Chang; Editing by Chris Lewis) ((gina.chang@thomsonreuters.com; +886 2 2508-0815; Reuters Messaging:gina.chang.thomsonreuters.com@reuters.com)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: MARKETS TAIWAN CURRENCY/
For Related News, Double Click on one of these codes:[M] [T] [Z] [MF] [D] [E] [PSC] [RNP] [DNP] [PTD] [PMF] [TW] [ASIA] [FRX] [EMRG] [LEN] [RTRS] [TWD/] [TWD=TP] For Relevant Price Information, Double Click on one of these codes: Tuesday, 30 June 2009 16:50:42RTRS [nTP51290] {EN}ENDS