Taiwan dollar drops in wake of president's remarks

TAIWAN - The New Taiwan dollar yesterday fell against its US counterpart, impacted by Taiwan President Chen Shui-bian's remarks on cross-strait relations over the weekend. The unit was down NT$0.102 to close at NT$33.825 on the Taipei foreign exchange market.

"The NT dollar plummeted this morning on worries that a further deterioration in cross-strait relations is approaching," a dealer with a local bank told the Taipei Times yesterday.

But the nation's central bank yesterday tried to play down