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REFILE-Taiwan dollar opens higher as exporters buy

Sun Dec 30, 2007 8:41pm EST

(Refiles to fix date to Dec 31)

TAIPEI, Dec 31 (Reuters) - The Taiwan dollar strengthened on Monday as exporters sold U.S. dollars for the local currency ahead of the year end.

Taiwan's currency TWD=TP reached T$32.475 to the U.S. dollar in the first 19 minutes of trade after opening at T$32.450, up from Friday's final price of T$32.499. Volume on the main Taipei Forex was US$52 million at 0115 GMT.

Exporters usually get rid of their U.S. dollars at the end of month and year to meet their cash needs.

With little trade expected ahead of the New Year holiday, light trade was expected throughout the day on Monday, a currency dealer in Taipei said.

"We haven't seen much trading, as the markets in Taiwan are slow today," the dealer said.

(Reporting by Ralph Jennings; Editing by Anne Marie Roantree)



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