Baht touches two-week high | Bangkok Post: business

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Baht touches two-week high

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The baht has risen again, touching the strongest level in almost two weeks, as a government report on Monday showed exports climbed last month by the most in more than a year. Government bonds were little changed. 

Overseas sales, which account for about two-thirds of Southeast Asia’s second-largest economy, jumped 16% in October after rising 0.2% the previous month, official data showed. Global funds purchased US$386 million more Thai equities than they sold last week, exchange data shows. The MSCI Asia Pacific Index rose for a fourth day.

"Risk sentiment has been stabilising recently and so funds are flowing into Asia, supporting regional currencies," said Tsutomu Soma, manager of the investment trust and fixed-income business unit at Rakuten Securities Inc in Tokyo. "Gains in stocks are also helping to boost investor appetite for emerging- market assets."

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