Wednesday 14 March 2007

Thai baht hits nine-year high

Rather ironical, I thought, in the midst of the current market turmoil, especially for those who remember 10 years ago. From AFP/CNA:

The Thai baht hit a new nine-year high against the dollar on Wednesday amid growing speculation that the army-backed government will soon lift controversial currency controls, dealers said.

The Thai currency reached 35.07 to the dollar in early morning trade, up from Tuesday's finish at 35.14-15.

This time really is different.

But Thailand is facing a disaster anyway. Again from AFP/CNA:

Thailand's northern Chiang Rai province has been declared a disaster zone after haze hit the region, while the air quality in nearby tourist hotspot Chiang Mai reached dangerous levels Wednesday.

Eight provinces in northern Thailand have been blanketed in smoke and dust for two weeks after forest fires and agricultural burning in northern Thailand and neighbouring Myanmar and Laos.

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