The Thai baht slipped today as political tension was mounting in Thailand and people were protesting against the current government, demanding the Prime Minister to step down.
More than 100,000 people went out on protests in order to topple the government. Suthep Thaugsuban, a former member of the largest opposition party, announced:
We will not stop even if she dissolves parliament or resigns. We will create a real democracy with the king as the head of state.
Yingluck Shinawatra, the current Prime Minister of Thailand, responded:
I have no intention to resign or dissolve the House. The cabinet can still function, even though we are facing some difficulties. All sides have shown their political aims; now they must turn to face each other and talk in order to find a peaceful way out for the country.
She also stated:
The government has instructed police and all security officers to handle the situation gently, based on international practices, so the demonstration wonât be used as a tool by people who want to make changes in a non-democratic way.
The political turmoil made investors nervous and they were pulling capital out of the country.
USD/THB was up from 31.8450 to 31.9800 and EUR/THB rose from 43.1230 to 43.2350 as of 9:58 GMT today.
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