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Thai Baht Rallies as Shinawatra Takes Drastic Measures

December 11, 2013 at 14:03 by Vladimir Vyun

H.M. King Bhumibol Adulyadej on 1,000-baht banknotesThe Thai baht advanced today as Prime Minister Yingluck Shinawatra took drastic measures to ease political tensions in the country, dissolving the parliament.

Previously, protests against the current government were pushing the baht down and some analysts said that the currency became too oversold, leading to the current rally. Yet most experts think that the rally will likely be very short. It is hard to believe the baht will be unaffected (or affected positively) by uncertainties caused by the dissolution of the parliament and the elections planned on February 2.

USD/THB was down from 32.0900 to 32.0350as of 14:04 GMT today.

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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