Taiwan Dollar Surges More Than 2% as Exporters Test Central Bank

The Taiwan dollar surged more than 2% in another day of volatility for the currency, as exporters’ sales of the greenback tested the central bank’s tolerance for local currency strength.

The currency jumped as much as 2.5% to 29.16 per US dollar Tuesday in the biggest one-day gain since early May, after sliding over 2% on Monday. The latest move pushed the local currency’s gain this year to 12%, making it the best performer in Asia.

Large foreign inflows and significant US dollar selling by local exporters were seen in Tuesday’s morning session, according to two traders, who asked not ...