Nov. 11 (Bloomberg) — Thailand’s baht traded near a 13- year high on speculation global funds will pour more cash into the nation’s assets, spurred by relatively high yields and the fastest economic growth in 15 years.
The currency has strengthened 7.9 percent in the past three months, the best performance among Asia’s 10 most-traded currencies, as overseas investors bought $2.1 billion more Thai equities than they sold. It was little changed today on concern leaders from Group of 20 nations will support measures to control fund inflows to stem exchange-rate volatility.
Investors “are still moving money into Asia because the interest-rate differentials between emerging markets and developed markets are big and economies here are strong,” said Paisarn Lertkowit, a currency trader at Bangkok Bank Pcl, the country’s No. 1 lender. “But in the short term, the market may be cautious to push the dollar lower due to the G-20 meeting.”