Thai Baht drops after announcement of coup


BANGKOK, 23 May 2014 – Within half an hour of General Prayuth Chan-ocha’s announcement of the declaration of the coup on national television yesterday (22 May 2014), the baht fell 0.3 percent against the U.S. dollar, down to 32.56 baht. 

However the currency did not break recent lows, suggesting that some investors believe that the military’s action could be a force in stabilizing the country.

Earlier this month, the currency hit its lowest point in three months at 32.63 per dollar. The baht, however, has still strengthened by 0.4 percent against the dollar this year.