Baht posts biggest 3-day loss in six weeks | Bangkok Post: Most recent

Most Recent >

Baht posts biggest 3-day loss

- +

The baht posted its biggest three-day loss in more than six weeks on concern escalating political tensions will hurt growth at a time when investors are trimming holdings of emerging-market assets. 

Overseas investors have sold US$948 million (30.8 billion baht) more Thai stocks than they bought this year and $124 million in bonds, exchange data show, as the Federal Reserve started paring stimulus that had driven capital into developing markets.

''The deteriorating political situation in Thailand is hurting the baht at a time when general sentiment for emerging-market currencies is weak,'' said Tsutomu Soma, manager of the fixed-income business unit at Rakuten Securities Inc in Tokyo. ''Technically, it was time for the baht to see a downward correction from a rally earlier this month.''

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