Thailand’s baht is holding its value against international currencies on Friday, the day after King Bhumibol Adulyadej, the world’s longest-reigning monarch and a father-figure to the nation, died in hospital.
The baht increased by 1.3 percent to 35.10 per dollar from Thursday’s close of 35.55. It started the new session at 35.12.
Thailand’s baht and the South Korean won led gains in Asian currencies. The baht headed for the biggest gain in a year following the death of King Bhumibol Adulyadej, the world’s longest reigning monarch.
The baht climbed 1.1 percent to 35.236 per dollar as of 9 a.m. in Bangkok, taking its two-day gain to 1.4 percent, according to data compiled by Bloomberg. It’s still down 1 percent for the week as Thailand prepares to mourn the death of 88-year-old monarch, a unifying force in the nation during his seven-decade reign.
Thailand is thought to be unlikely to face major economic disruption after the death of the king, despite the likelihood of capital outflows in the short term, many analysts and diplomats said.
At 9am, Friday 14 October the exchange rates are;
$1 = 35.2
£1 = 43.13
Aus = 26.75
Eur = 39.09