Baht weakens in wake of mass rallies in BKK

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BANGKOK, 15 January 2014 The baht currency has slightly depreciated after the anti-government People’s Democratic Reform Committee (PDRC) occupied Bangkok for the third day. 

Commercial banks on Wednesday reported that the Thai currency opened this morning at 32.76 baht to the U.S dollar, decreasing from 32.70 baht to the U.S. dollar yesterday afternoon. At 2 PM on Wednesday, the baht further dropped to 32.87 baht to the U.S. dollar.

The main reason the currency weakened was the PDRC’s mass rallies in many areas in Bangkok, said the banks. They also predicted that the U.S.’ economic information about retail business and the tapering the Quantitative Easing by the U.S. government on 28-28 January 2014 would affect the baht.