Asian currencies gained this week, led by the Thai baht and Malaysia’s ringgit, as regional growth that’s forecast to surpass developed markets and relatively high yields attract investors.
The Thai baht rose after allies of exiled former premier Thaksin Shinawatra won a majority in yesterday’s election. Thailand’s stocks may climb, according to UOB Asset Management (Thailand) Co. and BBL Asset Management Co.
Thailand’s baht headed for its first quarterly gain in a year amid easing political unrest and optimism the current-account surplus is widening.
Thailand’s baht was set for the biggest weekly loss in more than a month on concern delays in forming a new government will deepen an economic slowdown.