The currency could fall to 4.50 against the dollar, says Adam Reynolds, CEO, Asia Pacific of Saxo Bank Group.» Read More
Economic think-tank chief Chalongphob Sussangkarn has agreed to become finance minister of Thailand's military-appointed interim government, the Nation newspaper reported on Tuesday.
The search for a new Thai finance minister will take several days, Prime Minister Surayud Chulanont said after the shock departure of his economic tsar further eroded the government's shaky credibility.
The key to sustaining economic growth in Thailand is to keep the baht from rising too much against other currencies, although other steps are also needed, central bank Governor Tarisa Watanagase said Monday.
Thai stocks tumbled as much as 3.8% in the afternoon trading session Wednesday amid worries that a string of bombings over New Year's would further shake investor confidence in the Asian nation.
The Bank of Thailand will monitor trading in the baht and review the impact of its tough capital control measures in mid-January, Bank of Thailand Governor Tarisa Watanagase said Friday.
Thai stocks are over 2% lower in the afternoon session Thursday. Despite the disastrous intervention to halt the rise of the baht, army-appointed Thai Prime Minister Surayud Chulanont stood by his finance minister and central bank chief .
Hedge funds and mutual funds have poured big money into emerging markets. Which funds have the biggest exposure, if the “Thai Financial Flu” spreads? CNBC’s Melissa Lee investigated – and revealed her findings on today’s “Power Lunch.” Certainly with emerging markets on such a run recently, this is an area where many investors have seen increasing exposure.
As we’ve been telling you--a dramatic turn of events in Asia overnight sent Thailand's stock market plunging more than 15%. That country's government imposed capital controls in an effort to curb appreciation of the Thai currency--the Baht. The market reaction was so brutal, that just a few hours ago—Thailand’s government started to back-peddle.....