Pattaya Daily News

16 May 2012 :: 12:05:02 pm 63780

Baht weakest in 4 months

BANGKOK, 15 May 2012 - The baht has made a new record low in four months following the euro’s depreciation while domestic gold price has dipped to the lowest level in ten months.
Advertise Here

After the currency future opened today, the baht decreased by five satang against the US dollar to stand between 31.37-31.39 baht against the dollar. The baht continued to weaken to 31.40 baht against the dollar at 9.30 AM, the lowest value in four months since January, before moving in a narrow range.

The Thai baht depreciated in the same direction as other regional currencies, mainly due to the weakening of the euro after the market learned about Greece’s debt. According to analysts in the financial market, the baht is likely to continue to depreciate but it might not slide below 31.40 baht against the US dollar.

At the same time, gold price was also lowest in ten months. Bullion was sold at 23,150 baht per troy ounce today and gold ornament at 23,550 baht per troy ounce, lower than yesterday’s price by 100 baht per troy ounce. Gold price in the country has been dropping following a continuous price decrease in the global market.

Report by : NNT

Category : Business News

Comments in News


    
CAPTCHA Image
*

The messages you read here are opinions from the public and posted into the Forum automatically. The systems owner is not responsible for any content in the Forum or any comments posted. There is no proof that the contents posted are genuine or not, even if the name of the poster is real, th erefore, please use common sense when reading the Forum. If there are topics which are against the law or immoral, please contact webmaster@pattayadailynews.com

ken shabby