Thai Baht depreciates lowest in 1 month as political concerns rising

BANGKOK, 8 August 2013 (NNT) – The baht currency has made a one-month record low due to concerns of investors about the Thai political situation.

Immediately after the market opened on Thursday, the baht depreciated by 5-6 satang against the USD to stand at 31.42 baht and continued weakening to 31.49 baht. Weakest in a month, the currency lowered to the same level as 8 July 2013.

Financial analysts indicated that the baht depreciation was the result of investors’ concerns over the parliamentary review of the controversial amnesty bill and movements from the Opposition. It is expected that the baht will keep on depreciating until it passes the resistance line of 31.50-31.55 baht to the USD.

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