Executives of several commercial banks have forecast that the baht is likely to fluctuate much more than last year, mainly due to uncertainty about the policies of the new U.S. President.
Kit Charornkitchaichana, an executive at Kasikornbank, said that U.S. politics are the key factor affecting Thai currency during this period. This year, the baht will have a tendency to fluctuate quickly by both depreciating and appreciating in value. The bank does forecast that the baht’s value this year will hover around THB35-37 to 1USD, said Kit.
Meanwhile, TMB Analytics, of TMB Bank, has predicted that this year’s baht will depreciate, despite that it appreciated against the USD in the last two weeks. This baht appreciation was the result of USD currency speculation, said the bank, reported Thai News Bureau.
TBM added that the Thai economy, and other economies in the Asian region, will rebound this year, leading to capital inflows. TMB speculated that the baht will likely move between THB35.50 – 36.80 to 1USD.
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