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The Independent UK
The Independent UK
Business
Mark Leftly

Bangkok blast: The Thai baht sinks to six-year low after bombing

A general view taken from a moving train shows the scene at the Erawan Shrine after a bomb explosion in central Bangkok, Thailand (EPA)

The Thai baht fell by as much as 0.8% to 35.648 against the dollar, the lowest level since April 2009 and worse than during last year’s military coup.

Bangkok shares slumped by almost 3%, with tourism-linked companies such as Airports of Thailand and Central Plaza Hotel particularly hurt.

Analysts warned that there could be more share sell-offs, which would again damage the currency, because the attack will ruffle the country’s tourism sector.

Tourism accounts for about one-tenth of Thailand’s economy and is reaching its high season.

The attack was carried out at the Erawan Shrine, which is a major tourist attraction, and resulted in the deaths of foreigners, including Chinese.

The shrine is home to a gilded statue to honour the Brahma God, whose four faces represent kindness, mercy, sympathy, and impartiality.

Chinese shares also slipped in its late trading, down 6%, which rippled into depressed trading in neighbouring Asian stock markets.

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