Weaker Thai Baht Predicted

[george]

Weaker Thai baht predicted

BANGKOK: -- Thailand’s currency is likely to continue to weaken against the US dollar as a result of the United States’ key economic indicators expected to be announced later this week, according to a research institute.

The country's leading think tank, the KASIKORN Research Centre (KRC), has predicted that the Thai baht could weaken to more than 40 baht a dollar this week if the US key economic figures are better than expected.

Washington is scheduled to announce the US gross domestic product (GDP) and inflation rate in the first quarter of this year later this week.

The US Federal Reserve, the central bank, will also report the results of its forthcoming meeting of policy makers.

The Thai baht was weakest against the greenback over the past six months last Wednesday, being trade at 40.02 baht a US dollar.

This has been partly the result of a higher demand for US dollars in anticipation of an increase in US key interest rates shortly.

Most other currencies in the region have also weakened.

--TNA 2005-05-23

[mnoorsapl]

Weaker Thai baht predicted 

The country's  leading think tank, the KASIKORN Research Centre (KRC), has predicted that the Thai baht could weaken to more than 40 baht a dollar this week if the US key economic figures are better than expected.

Most other currencies in the region have also weakened.

--TNA 2005-05-23

<{POST_SNAPBACK}>

Very speculative indeed to the regions. Next target, to force China to devalue it's currency. What will the US tell us what to do next.

[stumonster]

Weaker Thai baht predicted 

The country's  leading think tank, the KASIKORN Research Centre (KRC), has predicted that the Thai baht could weaken to more than 40 baht a dollar this week if the US key economic figures are better than expected.

Most other currencies in the region have also weakened.

--TNA 2005-05-23

Very speculative indeed to the regions. Next target, to force China to devalue it's currency. What will the US tell us what to do next.

could be that some countries are better at "cooking the books" than others..

[Sphere]

Weaker Thai baht predicted 

The country's  leading think tank, the KASIKORN Research Centre (KRC), has predicted that the Thai baht could weaken to more than 40 baht a dollar this week if the US key economic figures are better than expected.

Most other currencies in the region have also weakened.

--TNA 2005-05-23

<{POST_SNAPBACK}>

Very speculative indeed to the regions. Next target, to force China to devalue it's currency. What will the US tell us what to do next.

<{POST_SNAPBACK}>

Quite to the contrary, China is being pressured to adjust their yuan vs. dollar peg upwards - to accurately reflect the Chinese currency's true value. This would help other export reliant Asian economies. However, with nearly 650 billion in USD forex reserves, China is extremely reluctant to do so.

[george]

Update:

Weak baht good for Thai exports, says FTI

BANGKOK: -- The industrial sector today welcomed the recent depreciation of the Thai currency, describing it as good news for exports.

Speaking in response to the baht’s slide to Bt40 to the US dollar, Mr. Santi Vilasakdanont, deputy head of the Federation of Thai Industries (FTI), said that exporters were satisfied with the value of the Thai currency.

Pointing to the benefits a weaker baht would have for the Thai export sector, he denied any concern over higher import costs for raw materials, saying that most companies had already factored currency fluctuations into their risk management practices.

He also noted that the recent pressure on the Chinese renminbi was likely to benefit Thailand’s export sector by giving it a competitive edge over China in markets where the two countries were rivals.

--TNA 2005-05-25

[roscoe]

Weaker Thai baht predicted 

The country's  leading think tank, the KASIKORN Research Centre (KRC), has predicted that the Thai baht could weaken to more than 40 baht a dollar this week if the US key economic figures are better than expected.

Most other currencies in the region have also weakened.

--TNA 2005-05-23

<{POST_SNAPBACK}>

Very speculative indeed to the regions. Next target, to force China to devalue it's currency. What will the US tell us what to do next.

<{POST_SNAPBACK}>

It is the prospect of China devalueing that,with the possible exception of Japan,is the main factor in the prospective weakening of most far eastern currencies.

The yanks just want to believe it is because of their key economic figures .

[Zarkow]

I welcome a weaker baht. The export-surplus means that Thailand as a whole will benefit and my wifes familys company export and gets payd in dollar, so...

[mnoorsapl]

Weaker Thai baht predicted 

The country's  leading think tank, the KASIKORN Research Centre (KRC), has predicted that the Thai baht could weaken to more than 40 baht a dollar this week if the US key economic figures are better than expected.

Most other currencies in the region have also weakened.

--TNA 2005-05-23

<{POST_SNAPBACK}>

Very speculative indeed to the regions. Next target, to force China to devalue it's currency. What will the US tell us what to do next.

<{POST_SNAPBACK}>

Quite to the contrary, China is being pressured to adjust their yuan vs. dollar peg upwards - to accurately reflect the Chinese currency's true value. This would help other export reliant Asian economies. However, with nearly 650 billion in USD forex reserves, China is extremely reluctant to do so.

<{POST_SNAPBACK}>

so the rich becomes richer and the poor had to start saving all over again. That is a lot of $$$ lost if China devalue it's yuan.