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SINGAPORE: The Singapore dollar hit a near five-month high against the baht on Wednesday as foreign selling of Thai bonds prompted investors to unwind long baht bets against the city-state currency, traders said.
TWO decades ago, Thailand became ground zero of the Asia financial crisis, when its government scrapped a dollar peg with the baht, a devaluation that unleashed a wave of speculative attacks on other regional currencies and shook the global economy. Now, the baht is again posing challenges for Thailand but this time because it may be too strong.
BANGKOK: Thai Finance Minister Kittirat Na Ranong has asked the central bank to submit measures capable of holding down the baht if it chooses not to cut interest rates, a senior Finance Ministry official said.
BANGKOK: The Thai baht defied the "Sell in May” playbook and is heading for the top spot in in global emerging markets this month, driven in part by foreign inflows into the nation’s bond and stock markets.
SINGAPORE: The Thai baht bounced on Monday after a surprisingly peaceful election over the weekend triggered short-covering, though plans to continue efforts to topple Prime Minister Yingluck Shinawatra and stress in emerging markets tempered the gains.
SINGAPORE: The baht is looking to repeat its performance as one of Asia’s best currencies last year. Today’s growth data will shed light on a key pillar of its recent strength and may help it stay in pole position at least through the first quarter.
BANGKOK: Thailand’s baht fell for sixth day, the longest stretch of losses this year, as investors sold the nation’s assets after the royal palace said the king’s condition was unstable.