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Tuesday, April 30, 2024

Politics plays a role in baht drift

Central bank head offers overview

A currency exchange booth on Khao San Road. The baht has depreciated by 9% against the dollar year-to-date, exceeding the volatility of the Malaysian ringgit, Indonesian rupiah and Philippine peso. (Photo: Nutthawat Wicheanbut)

Prolonged political uncertainty is exacerbating baht volatility against the dollar as Thailand still has not formed a new government, says the head of the Bank of Thailand.

Investors see higher risk for the foreign exchange rate, especially between the baht and the US dollar given domestic political developments….

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