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Baht continues to fall

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Thailand’s baht fell the most in a week on concern overseas investors will keep pulling money from the nation’s assets as anti-government protests that began late October show no sign of abating. 

Anti-government protesters defiant of a state of emergency decree blow whistles and laugh as they respond to a speech by Suthep Thaugsuban at their protest stage outside MBK shopping centre on Wednesday, Jan 22, 2014. The baht stays on a downward trend due to the ongoing protests. (EPA photo)

The Bank of Thailand cut this year’s growth forecast to about 3% on Wednesday from a November prediction of 4% after unexpectedly holding its policy rate at 2.25%. Caretaker Prime Minister Yingluck Shinawatra declared a 60-day state of emergency in Bangkok on Tuesday as she sought to combat violent attacks that threaten to derail elections scheduled for Feb 2. Global funds pulled a net US$195 million from local bonds and equities this month, official data show.

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