Baht Falls to Three-Year Low as Bonds Decline on Political Risk
This article is for subscribers only.
The Thai baht dropped to its lowest level since 2010 after overseas funds pulled cash from the nation’s debt amid two months of political protests that are sapping investor confidence.
Demonstrators plan to surround government ministries and occupy 20 major traffic intersections in Bangkok on Jan. 13 until caretaker Prime Minister Yingluck Shinawatra agrees to step down and allow an unelected council to reform the electoral system, Suthep Thaugsuban, a former opposition lawmaker who is leading the movement, said last week. Thai bonds declined as official data showed global funds sold $104 million more local fixed-income securities than they bought on Jan. 3.