The Thai baht went up today on the speculation that the fast growth of the Asian nations would attract more investors to the region, increasing the appeal of the Asian currencies.The central banks of some Asian nations, including Thailand, raised the interest rates this year, making their currencies higher yielding than the currencies of the Group of the Seven Nations. The International Monetary Fund predicted that the Asian developing economies would grow 9.2 percent this year, compared to the 2.6 percent growth in the industrialized nations.
USD/THB traded near 31.63 today as of 8:16 GMT after opening at 31.75.
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