Baht Advances After Recovery Optimism Sends Stocks to 1996 High
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Thailand’s baht advanced the most in more than a week after overseas investors bolstered holdings of local stocks to gain from an economic rebound, driving the nation’s share index to a 16-year high.
The SET Index of shares jumped 1.5 percent this week after rising to the highest level since February 1996. Foreign funds bought a net $83 million of local equities yesterday, the most since Dec. 12, according to exchange data. Gross domestic product will rise 5.7 percent this year, exceeding a previous forecast of 5.5 percent, the Finance Ministry said this week.