Thai baht surges to highest level in 2 years

By APD writer Chen Jiabao

**BANGKOK, Nov.21 (APD) ** -- The baht broke the THB33.00/USD level, touching at 32.79 on Tuesday, the highest range in 30 months.

Thai currency has risen to the peak recently since April 2015.

Thailand's Kasikorn bank credits the surge of the baht to the strong third quarter economic growth.

According to a research from the bank, the strength of the baht was in line with other regional currencies, while the dollar was pressured by an unclear situation toward U.S. tax reform now under consideration by Congress.

The report also said the baht was supported by thai exporters' dollar sell-offs and foreign net purchases of Thai bonds.

Bank of Thailand warned that exchange rates will continue to be volatile so business operators should hedge against that risk.

(ASIA PACIFIC DAILY)