Best Pound Thai Baht Exchange Rate Sees Cheapest Money Transfers to Thailand Since 2010

December 30, 2013 - Written by Minesh Chaudhari

STORY LINK Best Pound Thai Baht Exchange Rate Sees Cheapest Money Transfers to Thailand Since 2010

Political turmoil has worsened in Thailand and speculation rose that the country’s army could launch a coup d’état against the government of Prime Minister Yingluck Shinawatra’s government after the head of the army refused to rule out the possibility of such action. This has resulted in the best Pound Thai Baht exchange rate and therefore cheapest money transfers from UK tgo Thailand since 2010.

Bangkok has been hit by riots and street battles which have led to three deaths and hundreds of injuries.

“The Baht can still depreciate further because it doesn’t seem like the political problems will be going away anytime soon. The army could step in. As we have seen in the past, this will resolve itself peacefully but the Baht could weaken some more before we eventually see that,” said a forex trader at Amro Bank NV.

On Saturday a gunman opened fire on an opposition rally in the Thai capital. Some witness’s say the shots were fired from a passing car into a group of protesters camped overnight near the government house in Bangkok. In a bid to stem the violence the government called for snap elections to be held in February. Instead of muting the protests the announcement only invigorated the protest movement who say they want to oust Shinawatra.

The developments follow weeks of protests by people seeking to oust Prime Minister Yingluck Shinawatra. Demonstrators say her removal is necessary to purge the country of corruption and money politics.

With no end in sight for the political unrest the Thai Baht exchange rate is likely to fall even further over the coming days.

Key Thai Baht Exchange Rates (TBH) 30/12/2013

The US Dollar to Thai Baht exchange rate is trading at 32.85000 USD/THB.
The Pound Sterling to Thai Baht exchange rate is trading at 54.16014 GBP/TBH.
The Euro to Thai Baht excvange rate is trading at 45.23334 EUR/THB.

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