Baht sheds 1.1% on fresh vote hold-up

Outlook for brand-new share offerings dim as foreign financiers stay away amidst political unpredictability PUBLISHED : 3 Aug 2023 at 14: 40 (Photo: Reuters) The baht fell more than 1% on Thursday following news that a parliamentary vote to choose the nation’s next prime minister would be delayed, while other emerging Asian currencies likewise lost ground as the dollar hit a four-week high. The baht was down 1.1% after news broke that the next vote for PM might be at least another 2 weeks away, pending a judgment by the Constitutional Court about the legality of an earlier parliamentary choice. The currency slipped to around 34.64 to the UnitedStates dollar in overseas markets regardlessof the choice on Wednesday by the Bank of Thailand to raise its secret interest rate by 25 basis points. Southeast Asia’s second-largest economy hasactually been in political limbo giventhat citizens went to the surveys 81 days ago, on May14 Move Forward, the celebration that won the most votes and seats in the 6-billion-baht election, is now heading for the opposition benches while its erstwhile partner Pheu Thai efforts to kind a brand-new administration. An
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