Thursday, August 21, 2008

Thai c.bank sells dlrs to prop up baht -traders

BANGKOK, Aug 21 (Reuters) - The Bank of Thailand sold dollars in the currency market for the second time this week on Thursday to try to prop up the baht, traders said.

'There is heavy selling of dollars this morning to cap at 34.20,' said a trader in Bangkok.

A second trader said the baht was supported by suspected official intervention and also dollar sales by investors to take profit from its recent gains versus the baht.

The baht rose as far as 34 per dollar, up almost half of a percent from its nine-month low of 34.16 hit on Wednesday.

(Reporting by Kevin Yao and Vidya Ranganathan; Editing by Louise Heavens)

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