Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Baht Advances After Global Funds Raise Holdings of Thai Assets

Don't Miss Out —
Follow us on:

Aug. 9 (Bloomberg) -- Thailand’s baht strengthened and government bonds rose for a third day after foreign funds boosted holdings of the nation’s assets.

Overseas investors bought $115 million more Thai equities than they sold in the first three days of this week and pumped a net $665 million into government debt, according to data from the stock exchange and the Thai Bond Market Association. Monetary stimulus should be retained as an option until there is greater clarity on the impact of the global economy on Thailand, the central bank said in the minutes of its July 25 policy meeting released yesterday.

“Fund inflows are supporting the currency,” said Yuji Kameoka, chief currency strategist at Daiwa Securities Co. in Tokyo. “Although sentiment has been improving lately, it’s not strong enough to push the baht and other regional currencies toward new highs.”

The baht strengthened 0.1 percent to 31.49 per dollar as of 3:26 p.m. in Bangkok, according to data compiled by Bloomberg. The currency touched 31.27 on Aug. 6, the strongest level since May 22. Its thee-month implied volatility, a measure of exchange-rate swings used to price options, was little changed at 6.24 percent.

The yield on the 3.25 percent bonds due June 2017 dropped one basis point to 3.10 percent, the lowest level since February, according to data compiled by Bloomberg.

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

To contact the editor responsible for this story: James Regan at jregan19@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.