THB to move 30.10-30.40 THB/USD this week

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BANGKOK, 30 May 2011 – Kasikorn Research Centre (KResearch) has estimated that the Thai baht this week from 30 May to 3 June 2011 will move in the range of 30.10-30.40 baht per US dollar while many economic figures must be monitored closely. 

KResearch reported that the baht last week depreciated against the greenback as investors were avoiding risks in foreign markets. The Thai baht currency was weak in the beginning until the middle of the week. Meanwhile, foreign investors were selling Thai stocks and bonds.

The currency depreciated less in the end of last week following the revival of the Euro and other currencies in Asia. The baht on Friday closed at 30.36 baht per US dollar, compared with 30.27 baht per US dollar in the previous Friday 20 May.

As for this week, the baht is expected to move in the range of 30.10-30.40 baht per US dollar. Domestic factors that should be monitored are economic figures for April, inflation rate for May, Monetary Policy Committee meeting and intervention of the Bank of Thailand to stabilise the baht.

External factors that should be monitored are still concentrated in the Euro zone debt crisis and reports of important economic figures from the US.