32.180 / 0

16:53 07Oct09 RTRS-Taiwan dollar ends flat as inflows offset c.bank * Taiwan dollar hovers at one-year high * Central bank buys U.S. dollars to curb local currency gains * Fund inflows support Taiwan dollar in early trade (Updates to close) TAIPEI, Oct 7 (Reuters) - The Taiwan dollar ended flat on Wednesday, hovering at a one-year closing high, as gains in foreign fund inflows were met by central bank interventions. The Taiwan dollar rose to T$32.117 to the U.S. dollar in early trade, as the greenback came under pressure following an Australian interest rate increase that lowered demand for the safe-haven U.S. currency. Foreign fund inflows were also major contributors to the local currency's gains in early trade, dealers said. Foreign investors bought a net total of T$9.6 billion ($299 million) worth of Taiwan stocks, which climbed to their highest closing level in nearly 16 months on Wednesday. But the central bank bought U.S. dollars to curb gains, dealers said. "The central bank was behind more than half of the trades today," said a dealer in Taipei. The central bank has intervened aggressively over the past week by buying U.S. dollars to pare gains in the Taiwan dollar and help the island's numerous export-reliant companies. Taiwan's exports in September fell 12.7 percent from a year earlier, logging the smallest decline since October last year. [ID:nTP228644] 0800 GMT PREVIOUS DAY T$ (Taipei Forex Inc) 32.180 32.180 Volume in $ mln (Taipei Forex Inc) 1,046 1,386 T$ (Cosmos) 32.140 32.167 Six-month NDFs -0.730/-0.680 -0.810/-0.760 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 Joan Hsu and Rachel Lee; Editing by Chris Lewis) ((gina.chang@thomsonreuters.com; +886 2 2508-0815; Reuters Messaging: gina.chang.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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