Capital inflows expected to boost baht and Asian currencies

[webfact]

Capital inflows expected to boost baht and Asian currencies

By THE NATION

 

 

The baht opened at 30.16 to the US dollar on Monday, strengthening from 30.24 at close on Friday.

 

The Thai currency is likely to move between 30.10 and 30.30 on Monday and between 30 and 30.50 this week, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.

 

He predicted that capital would continue flowing into Asian countries, if the economic numbers in those countries recovered continually. This financial movement would weaken the dollar. This week, the dollar index would tend to move between 92 and 93 points, from the present 92.7 points, he said.

 

The senior director said that investors this week would continue speculating on Asian currencies, including the baht. However, he advised the investors to see signals of the baht strengthening conducted by the Bank of Thailand.

 

Thailand announced a 6.4 per cent contraction of gross domestic product in the third quarter on Monday, while data on China's the industrial production is due.

 

On Wednesday, the Monetary Policy Committee of Thailand will hold a meeting. Observers believe the committee will freeze interest rate at 0.50 per cent.

 

Source: https://www.nationthailand.com/news/30398016

 

-- © Copyright The Nation Thailand 2020-11-16

 

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[laocowboy2]

More downward pressure on export performance

[Pravda]

Those 99 baht breakfasts in Pattaya are getting too expensive for the brits

[whiteman]

Those 99 baht breakfasts in Pattaya are getting too expensive for the brits

 

Yes but they will be fine for they will dip there Tea bag and make 5 cups of tea instead of 3 cups as b4 and sit there longer thinking of the good times in the past

[hotchilli]

I can hear the exporters groaning again... 

[GreasyFingers]

5 hours ago, webfact said:

The senior director said that investors this week would continue speculating on Asian currencies, including the baht.

Isn't this the whole problem. Speculating in currencies is just gambling, and is no help to those that produce and export/import. As gambling is against the law in Thailand maybe they should put the speculators in prison.