Thailand's baht strengthened on March 25 when investors saw a likely win for Palang Pracharath Party which backs incumbent Prime Minister Prayuth Chan-ocha.
Hanoi (VNA) - Thailand's baht strengthened onMarch 25 when investors saw a likely win for Palang Pracharath Party whichbacks incumbent Prime Minister Prayuth Chan-ocha.
The baht rose 0.4 percent against the US dollar at 12:45pm(local time). It has been up about 3 percent against the greenback since the year’sbeginning. Meanwhile, Thailand's benchmark stock index dropped 0.89 percent onMarch 25 morning, in line with broader Asia declines.
According to analysts, the possibility of Prayuth remainingin office is positive for Southeast Asia's second-largest economy and encouragedforeign capital inflows.
Kobsidthi Silpachai, head of Kasikornbank capital marketsresearch, said the continuation of economic policies for investors seems to belikely, adding that this should help boost investors’ confidence to a certaindegree.
In the afternoon the same day, the Election Commission (EC) ofThailand delayed the announcement of preliminary vote result without anyreason, saying that it will be announced on March 29.
With 94 percent of polling counted, the EC reported that thepro-junta Palang Pracharat was leading with 7.69 million votes. The Thaksin-linkedPheu Thai Party trailed with 7.23 million votes, showed the initial data.-VNA
Thai baht surpassed others in Asia to rise by 4 percent against US dollar as of late February, and is predicted to be one of the best-performing currencies in the region.
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The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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Illustrative image (Source: BBC) 
