What is going on now? Last year the pound traded at over NT$66, now it is at NT$47 and likely to go to $45 soon. I was in Taipei 101 for lunch, and went upstairs to see the Taipei Stock Exchange which has recently agreed with London’s Stock Exchange on the sale of ETFs. This should be a good deal for Taiwanese investors making it easier and cheaper to find good quality, diverse ETFs.
It was while I was there that I noticed how much the British Pound had fallen that day against the US Dollar. It’s currently trading at about $1.3833 today and about NT$46.4864. This down by about 1/3rd against the US, and slightly less against the NTD! While my stocks are suffering, too, it gladly boosts my relative purchasing power!
But the vagaries of recent markets really make the mind boggle! Still when things are like this, there are opportunities for tremendous riches!