Baht Rises to Strongest Since March 2022 Amid Exporters Worries [Yahoo! Finance Canada]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance Canada
(Bloomberg) -- The baht gained to its strongest level in 30 months as China's stimulus boosted risk assets globally, adding pressure on the Bank of Thailand to act to curb its rally. Most Read from Bloomberg The currency rose as much as 0.8% against the dollar to 32.56 on Wednesday, a level last seen in March 2022. Robust inflows into equities and bonds are also boosting sentiment, with the benchmark stock index near a one-year high. China's stimulus bazooka is adding fuel to the rally in Asian currencies this quarter, with the baht's 12% surge the biggest after the ringgit. Its rapid rise is hurting exporters by eroding their trade competitiveness, prompting calls for the central bank to intervene and cut interest rates to shield exports and tourism — two pillars of Thailand's $500 billion economy. “The topic of strong baht is already on the agenda of policymakers,” said Christopher Wong, a currency strategist at Oversea-Chinese Banking Corp. in Singapore. “But if a weak dol
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