21.   The government and the IMF have resorted to high-interest-rate strategy to help defend the baht from plunging against the US dollar.

22.   This included not only approval of money from the FIDF but also the foreign exchange swap contracts to defend the baht.

23.   Those obligations were incurred as a result of central bank interventions this year to defend the baht against speculators.

24.   Under the conditions, the government is forced to implement a high interest rate policy to defend the baht, on hopes that it will help boost investor confidence.

25.   With the financial sector blow-out and the pressure of capital outflow, interest rates in Thailand have been kept high to defend the baht.

26.   Why did he want to defend the baht?

27.   Without reserves, interest rates had to be kept high to defend the baht or attract the foreign investors to hold baht-denominated assets.

28.   Virachai Krongsamsi of Adkinson Finance and Securities said investors doubted that Thai authorities could defend the baht if the dollar continued to climb.