Baht expected to rise to 40.90-41.20/dollar this week

BANGKOK: -- The Thai baht is anticipated to strengthen against the US dollar this week to around Bt40.90-41.20 per dollar while interest rates in the short-term money market is also expected to stay firm, according to a report issued by Kasikorn Rsearch Center.

The report said the baht was projected to move slightly upward to around Bt41 per dollar this week as traders awaited delivery of economic data for August to be issued by the Bank of Thailand on Friday.

External factors which may impact against the Thai currency include Friday's announcement by China's central bank on adjustment of the yuan to fluctuate against currencies such as the euro and the yen by

plus or minus 3 per cent but maintained the yuan-dollar band unchanged at 0.3 per cent.

Other vital factors considered are US economic data including the September consumer confidence index, the final revision for GDP for the second quarter of this year, orders for durable goods during August and the movement of Hurricane Rita--which may impact global oil prices.

The local short-term money market moved steadily last week as commercial banks submitted their reserve reports on Thursday while the public sector transferred money as salaries for civil servants through banks, the report said.

Last week's inter-bank rate moved within 3.00-3.30 per cent with the mode remaining steady at 3.18 per cent throughout the week.

Banks may have to prepare additional cash this week in preparation for cash withdrawals by customers as September is about to end, while Japan will close its half-year financial statement, the report said.

Short-term interest rates are not expected to change greatly while the interbank rate is to continue remaining steady at 3.18 per cent.

--TNA 2005-09-25

i hope it goes up..my income is all in USD

The Thai baht is anticipated to strengthen against the US dollar this week to around Bt40.90-41.20

i hope it goes up..my income is all in USD

Sorry Rainman, but if the Baht Strengthens, you'll get less Baht for your Dollar'

Mid Market rate as of now 41.1265

The exchange rate has not been making sense over the last month. Despite weaking of the Yen and Euro against the dollar, the Baht seems to trade in a very narrow band. It may be due to the central bank intervening heavily. I always felt that its so hard to predict currency moves that when banks make announcements like this they are trying to relieve pressure on currency by trying to impact investor sentiment.

Harmonica used to give us some pretty good data on all this, we must have offended him as the postings sure dried up.

...I expect US dollar to climb until 45 Bath...

THB should be 48/49 not 41. How long before it drops 1997 style ?

THB is already overvalued !!!

THB should be 48/49 not 41. How long before it drops 1997 style ? 

THB is already overvalued !!!

<{POST_SNAPBACK}>

50 is coming!!!

I can't see the dollar reaching 45 Baht, let alone 50.

Yes, I agree the Baht is probably overvalued, but so too is the US$, shored up at the moment only by sustained buying from Asian Central Banks. That can't continue. At some point in the not too distant future I see the dollar sliding drastically as the market decides enough is enough - US current account deficit, negative savings of US consumers, oil prices etc - will give the US dollar a hiding.

Both baht and dollar are weak . .their relative weaknesses are cancelling each other out.

But look to the baht to decline against stronger currencies, especially those who's strength will be enhanced by high prices for resources (cf Australia).

I can't see the dollar reaching 45 Baht, let alone 50.

Yes, I agree the Baht is probably overvalued, but so too is the US$, shored up at the moment only by sustained buying from Asian Central Banks.  That can't continue.  At some point in the not too distant future I see the dollar sliding drastically as the market decides enough is enough - US current account deficit, negative savings of US consumers, oil prices etc - will give the US dollar a hiding.

Both baht and dollar are weak . .their relative weaknesses are cancelling each other out.

But look to the baht to decline against stronger currencies, especially those who's strength will be enhanced by high prices for resources (cf Australia).

<{POST_SNAPBACK}>

...USD overvalued???...don't bet on it!!!...if you compare Eurozone and US economies it is surprising that Euro stand still up 1.2......sell Euros...better..

Didn't all the experts here say it was going down to 50?

A crash would be good for me. The last one was.

Didn't all the experts here say it was going down to 50?

A crash would be good for me. The last one was.

<{POST_SNAPBACK}>

..."going down to 50??"...what???..if you refer to EUR/THB actually is!!!

And about the crash...I don't see any crash of THB...just sliding vs. USD, but it will strenghten vs. EUR....bet on it!!!!

I would bet on it not getting to 50. No way.

Duh, i thought you wrote the USD was strengthening. I noticed it was up to almost 43 about two months ago and now its hovering at around 40.

...I expect US dollar to climb until 45 Bath...

THB should be 48/49 not 41. How long before it drops 1997 style ?

THB is already overvalued !!!

THB should be 48/49 not 41. How long before it drops 1997 style ? 

THB is already overvalued !!!

<{POST_SNAPBACK}>

50 is coming!!!

I hope that you got a refund on your crystal balls!

Why in the world are you posting news from Sept. 2005, when we're all sitting here on pins and needles wondering what it's going to do in Jan. 2006. If this is your idea of a practical joke.......it ain't funny McGhee.....ErnieK

...I expect US dollar to climb until 45 Bath...

THB should be 48/49 not 41. How long before it drops 1997 style ?

THB is already overvalued !!!

THB should be 48/49 not 41. How long before it drops 1997 style ? 

THB is already overvalued !!!

<{POST_SNAPBACK}>

50 is coming!!!

I hope that you got a refund on your crystal balls!

Nice bit of research

Nice bit of research

word ..............

Hey don't sell the prognosticators short! I've made $75K of of Britmaverick's advice back then. As soon as he predicted that the Baht was going to tank and the dollar increase in value, I transfered $500K into my Thai Bank accounts at 42 to the dollar. I didn't really know what the Baht was going to do, but I ###### sure knew where the dollar was headed!

Baht expected to rise to 40.90-41.20/dollar this week

BANGKOK: -- The Thai baht is anticipated to strengthen against the US dollar this week to around Bt40.90-41.20 per dollar while interest rates in the short-term money market is also expected to stay firm, according to a report issued by Kasikorn Rsearch Center.

The report said the baht was projected to move slightly upward to around Bt41 per dollar this week as traders awaited delivery of economic data for August to be issued by the Bank of Thailand on Friday.

External factors which may impact against the Thai currency include Friday's announcement by China's central bank on adjustment of the yuan to fluctuate against currencies such as the euro and the yen by

plus or minus 3 per cent but maintained the yuan-dollar band unchanged at 0.3 per cent.

Other vital factors considered are US economic data including the September consumer confidence index, the final revision for GDP for the second quarter of this year, orders for durable goods during August and the movement of Hurricane Rita--which may impact global oil prices.

The local short-term money market moved steadily last week as commercial banks submitted their reserve reports on Thursday while the public sector transferred money as salaries for civil servants through banks, the report said.

Last week's inter-bank rate moved within 3.00-3.30 per cent with the mode remaining steady at 3.18 per cent throughout the week.

Banks may have to prepare additional cash this week in preparation for cash withdrawals by customers as September is about to end, while Japan will close its half-year financial statement, the report said.

Short-term interest rates are not expected to change greatly while the interbank rate is to continue remaining steady at 3.18 per cent.

--TNA 2005-09-25

Yes, read the dates of these postings ! Somebody is going to place a post dated Jan 1998 to say dollar approaching 55 !!!