Baht weakens most in a week | Bangkok Post: breakingnews

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Baht weakens most in a week

The Thai baht fell the most in more than a week on concern economic weakness in Europe and China will hurt the Southeast Asian nation’s exports. Bonds gained.

The currency snapped a four-day gain before a report today that economists forecast will show retail sales in the euro area shrank the most in four months in August, according to a Bloomberg survey. Manufacturing contracted a second month in September in China, Thailand's largest export market, according to figures released this week. Weaker exports may hurt consumption and investment in the longer term, Bank of Thailand governor Prasarn Trairatvorakul said on Sept 26.

"Market sentiment is quite weak, weighing on regional currencies," said Tohru Nishihama, an economist at Dai-ichi Life Research Institute Inc in Tokyo. "Investors remain bearish on the outlook for the Chinese economy and that is negative for countries that depend on China for their exports. It’s hard to aggressively take riskier positions in this environment."

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Your comments

  • pointoffew

    Viet NamPost : 1,269

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    Discussion 3 : 03 Oct 2012 at 11.313

    As is ALWAYS the case with such currency reports written by Bloomberg, this one tells less than half of the story. The baht weakened COMPARED TO THE USD, not to many other currencies.

  • khunbj

    ThailandPost : 1,123

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    Discussion 2 : 03 Oct 2012 at 11.142

    Well what happened is that the USD strengthened against currencies across the board, that is where the impact is coming from.

  • bluebottle

    ThailandPost : 1,467

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    Discussion 1 : 03 Oct 2012 at 11.041

    I wonder how the PM will wriggle out of the statement she made a few months back the Thailand's exports would be 15% this year from figures supplied by here experts.

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