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Baht slumps to near 4-year low on political tumult

Published on Dec 23, 2013 11:04 AM
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The Thai baht slumped to its lowest level in almost four years against the dollar on Monday, hurt by deepening political turmoil after Thailand's main opposition party said it would boycott an election in February. -- FILE PHOTO: BLOOMBERG

SINGAPORE (Reuters) - The Thai baht slumped to its lowest level in almost four years against the dollar on Monday, hurt by deepening political turmoil after Thailand's main opposition party said it would boycott an election in February.

The Thai baht touched a low of 32.71 versus the dollar as of 9.48am Singapore time, the baht's weakest level since March 2010, according to Thomson Reuters data.

Growing worries about political risks helped knock the baht lower against the greenback, a Bangkok-based trader said.

Thailand's main opposition party announced on Saturday it would boycott an election in February, deepening uncertainty about the poll and fuelling a campaign to overthrow Prime Minister Yingluck Shinawatra's government.

 
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