RTRS: Taiwan dollar in lowest close in nearly 6 yrs
* Taiwan dollar falls to lowest close in almost 6 years
* Anticipation of weak jobs data fuels selling
* Data just before close: jobless rate matches record high (Updates to close)
TAIPEI, Feb 26 (Reuters) - The Taiwan dollar fell on Thursday to a its lowest closing level in almost six years as bleak jobs data underlined the slump in the economy.
The Taiwan dollar closed at an intraday low of T$34.850, logging its weakest finish since April 29, 2003. The currency closed at T$34.747 on Wednesday.
Volume on the main Taipei Forex Inc exchange was light at $765 million, but above a day-earlier $627 million.
"There were a lot of foreign fund outflows today as people expected the jobless data to be bad," said a dealer at a local bank.
Minutes before the market closed, Taiwan's statistics agency said the island's unemployment rate rose in January to a seasonally adjusted 5.33 percent, matching a record high. [ID:nTPU001144]
The Taiwan dollar was also pressured by a weaker South Korean won , which hit a near 11-year closing low on Thursday. [nSEO133479]
Taiwan and South Korea have similar trade portfolios, and a weaker won would make Taiwan exports less competitive.
Dealers said exporters were not active, suggesting they may be anticipating a deeper fall in the currency.
"Exporters might be waiting for the currency to test T$35 before buying," a dealer in Taipei said.
The Taiwan dollar has fallen 6.1 percent since the beginning of the year reflecting a wider fall in Asian currencies to factor in the impact of the global downturn on the region's economies.
In the non-deliverable forwards market, six-month NDFs were quoted at 0.000/0.050, compared with Wednesday's -0.070/-0.020, indicating investors expect the local currency to firm by a smaller degree in half a year than previous expected.