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Thai Baht Rallies After Elections, Rally Sustainable?

February 3, 2014 at 10:43 by Vladimir Vyun

Many Thai coins on a baht noteThe Thai baht gained today as yesterday’s elections in Thailand ended without any significant violence. The currency is still in danger as political turmoil persisted, endangering the country’s economy and spoiling the investing climate.

Prime Minister Yingluck Shinawatra initiated elections in hope to quell unrest in the country. And it looks like she failed in achieving such goal. In fact, protesters prevented voting in some areas, meaning that the elections may be annulled. And this means that the rally of the baht is likely to be short-lived.

USD/THB went down from 33.0200 to 32.9400 as of 10:42 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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