Thai baht touches three-week high after protests pass off peacefully

The baht gained 0.4%, marking its best day since Sept 1, while local stocks also rose.

BENGALURU: The Thai baht firmed to a three-week high yesterday, gaining along with most Asian currencies against a subdued dollar, while drawing relief from an anti-government protest passing off peacefully at the weekend.

At the biggest demonstration in years, tens of thousands of protesters on Saturday cheered calls for reform of the monarchy as well as for the removal of Prime Minister Prayuth Chan-ocha, a former junta leader, and a new constitution and elections. “There was a lot of anxiety going into the weekend”, said Kobsidthi Silpachai, head of capital markets research at Kasikornbank, adding that relief that that there was no violence gave “some impetus for the markets to strengthen this morning.”