Baht touches two-week high
- Published: 26/11/2012 at 06:33 PM
- Online news:
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."
The baht advanced 0.1% to 30.67 per dollar as of 3.16pm in Bangkok, according to data compiled by Bloomberg. It touched 30.62 earlier, the strongest level since Nov 13. One-month implied volatility, a measure of expected moves in exchange rates used to price options, rose three basis points, or 0.03 percentage point, to 4.3%.
The yield on the 3.25% bonds due June 2017 was little changed at 3.01%, according to data compiled by Bloomberg.
About the author
- Writer: Bloomberg News
Position: News agency