BANGKOK, Thailand – Kasikornbank (KBANK) expects the Thai baht to trade within a range of 32.30–33.00 baht per US dollar during August 24–28, compared with Friday’s close of 32.67 baht per dollar.
The bank said the baht strengthened early in the week amid selling pressure on the US dollar after weaker-than-expected US economic data raised expectations that the Federal Reserve may not rush to raise interest rates at upcoming meetings. The baht also received support from Thailand’s second-quarter 2026 economic growth, which slowed less than analysts had expected. However, the baht later weakened somewhat as the dollar recovered amid concerns over tensions in the Middle East. Negotiations between the United States and Iran remained unresolved, while a temporary ceasefire agreement ended on August 17.
The baht subsequently strengthened again, breaking through the 33.00 level to reach a two-month high of 32.64 baht per dollar, in line with rising global gold prices. The dollar weakened after the US Treasury secretary signaled that the government could consider increasing purchases of longer-term Treasury bonds beyond the amount previously announced. Most Asian currencies also strengthened, supported by the Japanese yen after Japan’s core inflation accelerated in July, increasing expectations that the Bank of Japan could raise interest rates.
For the coming week, markets will closely monitor the Bank of Thailand’s Monetary Policy Committee meeting on August 26, Thailand’s July export figures, foreign fund flows and developments in the Middle East. Investors will also be watching the Federal Reserve chair’s speech at the Jackson Hole symposium. Key US economic data due next week include new home sales, the PCE and core PCE price indexes, July durable goods orders, August consumer confidence, preliminary second-quarter 2026 GDP figures and weekly jobless claims.
