11.   An analyst of a leading local securities house said the performances of the rupiah and the baht are quite different.

12.   Chaiyawat, Bandid and Phaibul believed that the baht was defendable.

13.   Consequently, the baht is likely to plunge and economic recovery will be even harder.

14.   Currency dealers said that the drop in rates indicated speculators had indeed been beaten back, but that it did not mean that the baht was no longer vulnerable.

15.   Currently, nobody knows when the baht will be stable.

16.   Excluding the Indonesian rupiah, the baht is the weakest of the other currencies in this region.

17.   However, Satian noted that this method is not popular in Thailand as the premium is relatively high while the baht has been highly volatile since the flotation.

18.   If the baht is not stable, foreign capital will not flow back into the country.

19.   It does not mend its mistakes by settling forward contracts when the baht is relatively stronger.

20.   Thanong took over the ministry in June as the baht was under heavy attack in currency markets.