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Thai Baht Advances on Overseas Inflows

July 8, 2011 at 15:41 by Vladimir Vyun

Thai bahtThe Thai baht rose today, together with other Asian currencies, on the speculation that the growing economy and increasing interest rates will draw inflows of foreign funds in the nation’s economy.

Pheu Thai party won a clear majority in the elections last week, easing concerns about political unrest. The Bloomberg-JPMorgan Asia Dollar Index gained 0.3 percent this week, reaching today the highest level in 14 years of 119.40. Global funds invested about $1.9 billion into equities of Indonesia, South Korea and Thailand this week.

USD/THB fell from 30.32 to 30.25 as of 15:39 as of 15:39 GMT today after falling to 30.12.

If you have any questions, comments, or opinions regarding the Thai Baht, feel free to post them using the commentary form below.

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