Hot! Thailand Braces for Foreign Cash Influx

The Bangkok Post | Analysts expect the baht to appreciate in the short term with the US Federal Reserve’s new round of debt purchases and the continuing debt crisis in Europe.

According to The Bangkok Post, the baht weakened to 30.89 to the US dollar yesterday from 30.77 on Wednesday.

The Fed announced it will buy mortgage-backed assets worth US$40 billion per month without a specific ending period.

Suchada Kirakul, a deputy governor of the Bank of Thailand, said the local market can cope with the expected increase in foreign capital inflows and that the baht movement has been in line with regional currencies.

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