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Thai Baht set to weaken

Thai Baht

Thai baht is set to weaken following foreign capital outflows from the stock and bond markets.

The Thai baht today is traded at Bt35.13 per US dollar, gaining nearly 2 per cent since the beginning of this year.

Maybank Kim Eng Securities (Thailand) expects a reversal of the trend this month due to tightening by the US Federal Reserve.

Net foreign outflows yesterday were tuned at Bt6 billion: Bt2.4 billion from stocks, Bt2.8 billion from short-term bonds and Bt0.8 billion from long-term bonds.

Foreigners were also net sellers of Thai stocks and bonds on Monday, with net-sell positions worth Bt3.2 billion.

Source: http://www.nationmultimedia.com/

Joe Miller
the authorJoe Miller
I have been living in Thailand for over 20 years and witnessed the many changes the country has undergone since the Asian Financial Crisis. I have spent time in Phuket, Samui, Hua Hin, and Chiang Mai, but I gravitate back to Bangkok when all is said and done. It is here that I spent years running a software development company and teaching at universities. These days I live on the Internet with Bangkok as my base. I never stopped believing in the enormous potential of Thailand's kingdom, which is why I joined the ThaiVest Team.

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