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Thai Baht Weakened by Threat of Intervention

February 6, 2013 at 11:12 by Vladimir Vyun

Thai baht banknotesThe Thai baht fell today on concerns that the Thai policy makers will intervene to curb appreciation of the currency, joining the so-called currency war.

The baht, as well as other Asian currencies, was appreciating as capital inflows in Asia persisted. The appreciation led to worries that Thai exporters will suffer from the strong currency. Many nations (Japan among others) weaken their currencies to support exports, so why Thailand should stay away? Worries that the Asian country will indeed join the currency war hurt the baht today.

USD/THB rose from 29.7450 to 29.7850 as of 11:11 GMT today and its daily high was at 29.8150.

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