BANGKOK, 20 May 2014,– Asian investors continued to monitor developments in Thailand, after the Royal Thai Army declared martial law throughout the nation earlier this morning.
The deputy army spokesman Colonel Winthai Suvari said the declaration of martial law is aimed at maintaining peace and order amid the political vacuum in Thailand and does not constitute a coup.
Since May 14, the baht first slipped to 32.64 Baht per U.S. dollar before reaching 32.66, its weakest level. Currently the Baht is at 32.49 per U.S. Dollar (GTM+7 8:26 a.m.). Five-year credit-default swaps protecting Thailand’s debt against non-payment, climbed to a one-month high of 127 basis points yesterday in New York, CMA prices show.
