Baht expected to continue strengthening until 2021

[webfact]

Baht expected to continue strengthening until 2021

By THE NATION

 

 

The baht opened at 30.37 to the US dollar on Friday, strengthening from 30.40 at close on Thursday.

 

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

 

On Thursday night, the S&P 500 index rose by 0.4 per cent, riding on tech stocks in the US market, especially Tesla which has reached a new high.

 

However, the International Monetary Fund (IMF) warned that the global economy was still in crisis, and the rise in the stock market would be a risk in financial stability in the future. The initial jobless claims in the US lately increased by 742,000 positions, reflecting the slow recovery in the US market.

 

In the financial markets, the dollar strengthened, while the US Ten-Year Treasury decreased by 2.3 basis points to 0.85 per cent. These developments were in the backdrop of the Covid-19 situation, which has made several countries go for another round of lockdowns.

 

In Thailand, the baht weakened in a narrower range. In the short term, Jitipol advised investors to monitor Bank of Thailand (BOT)'s measures to deal with speculation on the baht. He said the baht would continue strengthening until 2021, if foreign investors still decided to invest in Thailand.

 

Source: https://www.nationthailand.com/news/30398266

 

-- © Copyright The Nation Thailand 2020-11-20

 

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[NCC1701A]

so much for the measures that were announced yesterday to weaken the Baht. 

[Brickbat]

It only damages the Thai economy as exports cost more and tourists find better value elsewhere.I guess.

[keith101]

Its fairly obvious they have no real intention of trying to control the rising value , they seem happy to have the best asian currency rather than what it will do the economy .

[hotchilli]

6 hours ago, NCC1701A said:

so much for the measures that were announced yesterday to weaken the Baht. 

But they've still got there eye on it.

[Scott Tracy]

So it is true...currency manipulation is rife.

 

Someone predicts what will happen tomorrow up to 2021. Bloody clear Crystal ball.

Would you put your house on it?