THB to strengthen to 29.80-30.10 THB/USD this week


BANGKOK, 25 April 2011  – The Thai baht is expected to move in the range of 29.80-30.10 baht against the greenback this week amid impacts mainly from external factors, according to Kasikorn Research Center (KResearch). 

KResearch indicated that investment directions of the financial markets in risk assets worldwide must be monitored closely due to potential effects on assets and currencies in Asia while measures to stabilize the baht by the Bank of Thailand is anticipated to influence the currency alike.

Moreover, the US economic figures will be playing roles in the baht value this week, notably the press briefing of Federal Reserve System (FED) Chairperson Ben Bernanke to be made after a meeting of the FED Monetary Policy Committee on 26-27 April 2011.

Other important economic figures of the US with influence to the Thai currency movement are consumer confidence index, purchases of durable goods, sales of new houses and Gross Domestic Product figure in the first quarter this year.