THB to move 30.20-30.50 THB/USD this week

0
1368

BANGKOK, 13 June 2011 – Kasikorn Research Centre (KResearch) has estimated that the Thai baht this week (from 13 to 17 June) will move in the range of 30.20-30.50 baht per US dollar while foreign capital flows must be monitored closely. 

KResearch reported that the baht last week appreciated against the greenback at the beginning until the middle of the week in line with the appreciation of other Asian currencies and the euro while the US dollar was pressured down by disappointing US economic figures.

The baht then depreciated following the selling forces by foreign investors both in the stock and bond markets. The currency on Friday recovered slightly to close at 30.36 baht per US dollar, compared with 30.30 baht per US dollar on the previous Friday, 3 June.

As for this week, the baht is expected to move in the range of 30.20-30.50 baht per US dollar. The only domestic factor that should be monitored is an intervention by the Bank of Thailand to stabilise the baht.

Meanwhile, external factors that should be monitored are still concentrated on the Euro zone debt crisis and the global economic slowdown which can be measured by important economic figures from China and the US.