BANGKOK, Thailand – A Krungsri Global Markets analyst is of the opinion that the court-ordered suspension of the Prime Minister and Culture Minister Paetongtarn Shinawatra will affect investor confidence, though the immediate impact on the currency was limited.
The comment follows the Constitutional Court’s decision to accept a petition and order Prime Minister Paetongtarn to suspend her duties.
Roong Sanguanruang, Senior Director of Global Markets Planning at Bank of Ayudhya Public Company Limited, said the decision will impact investor confidence to some degree. She added that it will also unavoidably affect the economy. However, Director Roong noted the Thai baht did not weaken significantly after the ruling, depreciating by only ten to fifteen satang.
She also commented on the potential effects on trade and tariffs. Director Sanguanruang believes the impact should not be severe because the government and the House of Representatives are still in place. Only the Prime Minister must halt her duties. (NNT)
