Baht tracks best day in 2 weeks after PM survives confidence vote
Thailand's baht was on track for its best session in nearly two weeks on Monday after the country's prime minister survived a confidence vote in parliament, while a weaker U.S. dollar also supported the currency.
The baht, which has weakened more than 8% and is
among the worst performing currencies in Southeast Asia this year, added as much as 0.9%.
Prime Minister Prayuth Chan-ocha and five cabinet ministers
comfortably survived a vote of no confidence in parliament on Saturday, though activists planned more protests against the government.
Analysts at Maybank warned that "some downside risks to THB sentiments could come from the possibility of escalating pro-democracy protests."
Meanwhile, Thailand's commerce ministry said headline
inflation unexpectedly dropped in August from a year earlier, mainly due to government subsidy measures.
Reference: Reuters
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