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Baht Trims Gains After Central Bank Cuts Benchmark Interest Rate

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.

To contact the reporter on this story: Yumi Teso in Bangkok at yteso1@bloomberg.net

To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net

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