More than 123 billion baht of foreign capital has exited the Thai bond market since Russia attacked Ukraine, part of a flight to the US dollar market, according to the Thai Bond Market Association (TBMA).
Sirinart Amornthum, TBMA's senior vice-president, said from the start of the war on Feb 24 until March 28, foreign investors recorded net sales of more than 123 billion baht of Thai bonds.
The market saw an outflow of 100 billion baht in March as sentiment was further pressured by the US Federal Reserve's interest rate hike.
