Baht rises on bets policy makers to allow gains to cap price | Bangkok Post: Most recent

Most Recent >

Baht rises, bonds steady

- +

The baht rose by the most in two weeks on speculation policy makers will tolerate currency gains to counter inflation. Government bonds were steady. 

Deputy Prime Minister Finance Minister Kittiratt Na-Ranong said last week the central bank should avoid fighting market forces to stem baht appreciation. International investors bought US$3.7 billion more local sovereign debt than they sold this month through yesterday and poured a net $487 million into equities, official data show. Inflation accelerated to 3.63% in December, the fastest in 13 months, government figures showed Jan 2.

"The baht has received support from the perception that Thai authorities are more amenable to currency appreciation," said Sacha Tihanyi, senior foreign-exchange strategist at Scotiabank in Hong Kong. "This has helped encourage portfolio flows. Domestic economic conditions may cause price pressures, while baht gains can help contain imported inflation."

Keep up-to-date with the latest on coup d'etat with Bangkok Post SMS News. Call *451391000 to subscribe – 39 baht/month (7 days free, available in Thailand only) Bangkok Post SMS News: Deliver only trustworthy news on SMS

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments