Baht loss biggest of 2012
- Published: 25 May 2012 at 18.02
- Online news:
The baht had its biggest weekly drop in 2012 as foreign funds reduced holdings of local stocks amid concern that Europe's debt crisis will slow global economic growth.
The currency fell for a fourth week as global investors sold nearly 7.3 billion baht more worth of local stocks than they bought in the past five days, data from the Stock Exchange of Thailand showed.The SET Index finished the week down 1.9% from the previous Friday, its third successive weekly decline."Investors are risk-averse and stock markets and Asian currencies can still test the weaker side,” said Nalin Chutchotitham, an analyst at Kasikornbank."Importers may be buying the...
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