(Bloomberg) -- Thailand's baht rose beyond 34 to the
dollar for the first time since 1997 on speculation overseas
investors increased purchases of stocks as the market rallied to
a decade-high.
The baht gained as much as 0.7 percent, the biggest
fluctuation of any currency today, reaching levels not seen since
the Asian financial crisis. The currency's appreciation beyond 36
was the trigger for restrictions on foreign investment in
December. Bank of Thailand Governor Tarisa Watanagase today said
the bank was ``working'' to curb the rise, without detailing
whether it plans to weaken the baht.
Read more at Bloomberg Currencies News
dollar for the first time since 1997 on speculation overseas
investors increased purchases of stocks as the market rallied to
a decade-high.
The baht gained as much as 0.7 percent, the biggest
fluctuation of any currency today, reaching levels not seen since
the Asian financial crisis. The currency's appreciation beyond 36
was the trigger for restrictions on foreign investment in
December. Bank of Thailand Governor Tarisa Watanagase today said
the bank was ``working'' to curb the rise, without detailing
whether it plans to weaken the baht.
Read more at Bloomberg Currencies News
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