Baht shows weekly gain on inflows | Bangkok Post: business

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Baht shows weekly gain on inflows

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The baht had its biggest weekly advance in a month and government bonds rose as foreign funds pumped money into local assets on signs the political situation is stabilising. 

Overseas investors have bought a net $604 million of Thai stocks and $1.1 billion of the country’s debt since the end of February as anti-government protesters removed blockades in Bangkok and authorities lifted an emergency decree. The baht has rallied in line with regional peers on the back of dollar weakness, Bank of Thailand spokeswoman Roong Mallikamas said on Friday. The currency fell the most in more than two weeks today as the MSCI Asia Pacific Index of shares slumped.

The baht rose 0.6% this week, the most since the five-day period ended March 7, to 32.29 per dollar as of 3.44pm in Bangkok, according to data compiled by Bloomberg. It weakened 0.2% on Saturday after strengthening 0.8% over the previous three days and reaching a three-week high of 32.137 on Friday.

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