Chun Yu, one of major steel wire and fastener producers in Taiwan, said the currently appreciating New Taiwanese dollar (NTD) may cause the company to have the exchange losses in this third quarter.
Chun Yu said that it has about US$30~US$40 million in hand; however, since the exchange rate between NTD and US dollar has appreciated from 29.8 to become 29.2, it will cause Chun Yu to lose NT$30 to NT$40 million.
Therefore, Chun Yu said the situation caused them not be able to make profit in the third quarter and the company may get the negative sales number