Thai Baht Sinks to 12-Week Low as Protests Mount; Bonds Decline
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Thailand’s baht fell to a 12-week low and government bonds dropped as protesters seeking to oust Prime Minister Yingluck Shinawatra vowed more unrest after clashes left three dead in Bangkok at the weekend.
The cost of insuring the nation’s sovereign debt from default rose today after anti-government protesters removed barriers surrounding Government House and the Metropolitan Police Bureau, and police spokesman Piya Utayo said tear gas was fired to repel them. Global funds pulled a net $2.8 billion from Thai bonds and equities in November, official data show. Bank of Thailand Governor Prasarn Trairatvorakul said Nov. 30 that consumption, investment and tourism are being affected.