The baht was quoted stronger in early Asia-Pacific trading Monday after opposition parties Move Forward and Pheu Thai emerged as the biggest winners from Thailand’s elections over the weekend.
(Bloomberg) — The baht was quoted stronger in early Asia-Pacific trading Monday after opposition parties Move Forward and Pheu Thai emerged as the biggest winners from Thailand’s elections over the weekend.
With about 97% of the vote counted, pro-democracy parties looked set to win majority of seats, putting them on course to wrest power from a military-backed government that has ruled for almost a decade.
The currency, which has been one of the strongest in emerging Asia so far this year, was quoted around 0.2% stronger at 33.92 per dollar.
Winning most seats in a Thai election doesn’t guarantee a place in the government as the military-appointed Senate and other parties could still block candidates for Premier.
(Updates throughout.)
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