Article: Demand for Dollar Pushes Baht Value Further Down

Strong domestic demand for US dollar prompted the baht to further fall in the local spot market to its lowest level since July 2, when the baht was floated.

In the local market, the dollar/baht trading was quoted on Tuesday at 29.15 and 29.20 baht, compared with 28.93 baht at the close of trading on Monday, and around 27.50 baht at the close of the first day of trading when the baht was floated.

On Tuesday, the central bank set its reference rate at 28.922 baht, up from 28.578 on Monday. The reference rate given by the central bank is used by commercial banks as a guide for their money transactions. Dealers say that the baht's weakness was ...

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