Taiwan Dollar Drops to Weakest Since May as Stock Outflows Surge

The Taiwan dollar extended losses to its weakest since May, weighed down by heavy foreign outflows spurred by the war in the Middle East.

Taiwan’s currency fell as much as 0.6% to 31.782 per dollar on Wednesday, the weakest level since May 2. Global investors offloaded a net NT$230.2 billion of Taiwanese stocks so far this week, putting them on track for the biggest weekly sale since at least 2000.