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Baht Heads to Weekly Rally, Remains in Danger

February 7, 2014 at 13:12 by Vladimir Vyun

A fan of 1,000-baht billsThe Thai baht fell today, but was still heading to weekly gains as last weekend’s elections did not result in escalation of protests and violence, easing concerns about the political turmoil in the country.

The election was held on February 2 and confirmed that the current government remains in power. The news resulted in a rally, which was not as short-lived as some experts have thought. Still, the opposition is attempting to annul the voting result and the political situation did not improve much. This means that the baht remains in danger.

USD/THB went up from 32.7950 to 32.8000 as of 13:11 GMT today, but was heading to 0.6 percent weekly gain.

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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