THB to move 30.00-30.50 THB/USD this week

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BANGKOK, 11 July 2011  – Kasikorn Research Centre (KResearch) has estimated that the Thai baht this week (11-14 July 2011) will move in the range of 30.00-30.50 baht per US dollar, suggesting that the Monetary Policy Committee meeting on 13 July be monitored closely. 

KResearch reported that the baht in the beginning and the middle of last week appreciated as foreign capitals had moved back to the Thai stock and bond markets once again after the peaceful 3 July general election. The currency also moved in line with others in the region.

The baht appreciated at the end of last week after incoming Prime Minister Yingluck Shinawatra announced that Thailand will let its currency appreciate to ease inflation. The baht closed at 30.20 per US dollar on Friday, compared with 30.68 baht per US dollar a week earlier.

As for this week, the baht is expected to move in the range of 30.00-30.50 baht per US dollar. Domestic factor that should be monitored is the outcome of the Monetary Policy Committee’s meeting on 13 July.

Meanwhile, external factors that should be focused are still concentrated on the Greek debt crisis as well as important economic figures from the US and China.