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Thai Baht Gains on Optimism Spurred by Obama’s Reelection

November 9, 2012 at 14:13 by Vladimir Vyun

A fan of 1,000-baht billsThe Thai baht gained today as the reelection of Barack Obama as US President made investors believe that quantitative easing will persist and inflows into emerging markets will continue.

Thai Bond Market Association estimated that global funds bought $71 million more of Thai government notes than they sold. Inflows into Taiwanese and Philippine stocks were at $240 million this week. The Taiwan dollar has advanced 0.5 percent over this week so far.

USD/THB fell from 30.7000 to 30.6550 as of 14:12 GMT today, while the daily low was at 30.6300.

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