(Photo: Pornprom Satrabhaya)The baht fell to a 10-month low on Wednesday, while stocks and bonds also slid under foreign selling pressure, with investors worried that high oil prices and government spending plans would widen the country’s current account deficit. The baht slid 0.6%, its second day of decline and marking its lowest level since Nov 10. Oil prices retreated from 10-month highs on Wednesday but have risen 10% this month. Poon Panichpibool, markets strategist at Krungthai Bank, said soaring oil prices had prompted some commodity-related players to purchase dollars, and if oil prices were to march higher, that could fuel concern about the country’s current account. “Thai bonds have sold off on worries of greater bond issuance to fund the fiscal stimulus.

Source: Bangkok Post September 20, 2023 18:09 UTC