Antara News : Thai bath weakens on market concerns over applying security act

Thai bath weakens on market concerns over applying security act

Wed, March 10 2010 18:21 | 610 Views

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Bangkok (ANTARA News/Asia Pulse) - Thailand's baht currency has weakened temporarily on market concerns in response to Tuesday's Cabinet decision to invoke the Internal Security Act in the capital and its environs, to prevent possible violence from political rallies by Red Shirt demonstrators, according to the Bank of Thailand (BoT).

BoT Financial Markets and Reserve Management Department senior director Wongwatoo Potirat said the currency depreciation also stemmed from an adjustment of commercial banks' foreign currency positions.

Ms Wongwatoo said the bank was not greatly worried about the current baht movement as it was not very volatile.

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