Thailand’s baht pared gains after the central bank reduced borrowing costs for the first time in two years.
The baht advanced 0.1 percent to 31.24 per dollar as of 2:23 p.m. in Bangkok, according to data compiled by Bloomberg. The currency had gained as much as 0.3 percent earlier.
The Bank of Thailand cut the one-day bond-repurchase rate by 25 basis points to 3.25 percent.
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