tw dlr

16:51 16Jun09 RTRS-Taiwan dlr firms on world reserve concerns, exporters * U.S. dlr slides on world reserve currency questions * Exporters buy local currency as price right * Currency seen between T$32.75 and T$32.9 later in the week (Updates to close) TAIPEI, June 16 (Reuters) - The Taiwan dollar firmed on Tuesday as the U.S. dollar lost ground amid questions about its worth as a world reserve currency. The Taiwan dollar closed at T$32.885 to the U.S. dollar, above Monday's final price of T$32.940. Volume on the main Taipei Forex Inc exchange was a light $779 million. "The U.S. dollar has gone weaker globally, the rest of the market is quiet, and trade volumes are quite low," a dealer in Taipei said. "We also saw a few exporters." The U.S. dollar fell broadly on Tuesday after traders took comments from Russia that the world needs new reserve currencies as a signal that it may be looking to cut the share of U.S. assets in its currency portfolio. [ID:nLG824175] A few exporters were also seen boosting the Taiwan dollar on Tuesday, taking advantage of its price to buy more of the local currency for cash needs at home, dealers said. The currency has trended weaker since the beginning of June. Lacking other market direction, the Taiwan dollar is expected to trade between T$32.75 and T$32.9 in coming days. In the non-deliverable forwards market, six-month NDFs were quoted at -0.640/-0.580, compared with Monday's -0.535/-0.500. That indicated the market was expecting the Taiwan dollar to strengthen by a larger degree in half a year. On the smaller Cosmos exchange , the Taiwan dollar closed at T$32.882, up from Monday's close of T$32.937. (Reporting by Ralph Jennings; Editing by Nick Macfie) ((ralph.jennings@thomsonreuters.com; +886 2 2500 4882; Reuters Messaging: ralph.jennings.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: MARKETS TAIWAN CURRENCY/
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