Taiwan’s dollar rose the most in three weeks on speculation exporters are converting overseas income after the central bank’s suspected intervention late yesterday resulted in a more favorable exchange rate. The currency traded near a two-week high after a government report last week showed shipments climbed for an eighth straight month. Policy makers have weakened the currency in the final minute of trading for more than two months to curb appreciation that may hurt exports, according to traders familiar with the monetary authority’s operations, who declined to be identified. “Maybe some exporters are selling,” said Albert Lee, a fixed-income securities trader at Cathay United Bank in Taipei. “Our central bank will still come in to adjust” the Taiwan dollar, he said. Taiwan’s dollar strengthened 0.5 percent to NT$32.095 against its U.S. counterpart as of 9:49 a.m. local time, according to Taipei Forex Inc. It touched NT$32.001 on July 9, the highest level since June 28. The currency, which has declined 0.3 percent this year, may trade between NT$32 and NT$32.30 this week, Lee said. Exports increased 34.1 percent from a year earlier in June, compared with a 57.9 percent gain the prior month, the Ministry of Finance said in Taipei on July 8. The yield on Taiwan’s 2 percent government note maturing in July 2015 was little changed at 1.02 percent, according to Gretai Securities Market, the island’s biggest exchange for bonds. A basis point is 0.01 percentage point.

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