Baht hits 8-day low
- Published: 12 Feb 2013 at 09.36
- Online news:
The baht dropped Tuesday to its lowest in more than a week on speculation the Bank of Thailand will cut interest rates next week to slow fund inflows that helped fuel a 2.3 per cent rally in the currency this year. Bonds fell.
Finance Minister Kittiratt Na-Ranong said Jan 25 that lower interest rates would discourage inflows into the country. He urged the central bank to employ measures to prevent the baht from rising or falling sharply.
There is concern the strong baht will hurt tourism and exports, he said Jan 31. The Bank of Thailand is to review interest rates on Feb 20.
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