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Home  >>   Daily News  >>   Thailand News  >>Economy  >>Baht is expected to remain weakened next week
NEW UPDATES Asean Affairs  6 October 2014  






Baht is expected to remain weakened next week

BANGKOK, Oct 4 --The Thai baht is projected to remain weakened during next week after it slipped to 32.50 baht per US dollar on Friday, its weakest position in the past three months, according to a report issued by Kasikorn Research Centre.
 
The Centre has projected that the Thai baht is expected to move between 32.35 – 32.65 baht per dollar next week as traders cautiously watch dollar movements early in the week while they take into account the latest U.S. employment data.
 
A report issued by the US Labor Department on Friday said US jobless rate declined to a six-year low of 5.9 per cent in September and that employers hired more workers than projected.
 
The unemployment rate fell to the lowest level since July 2008, down from 6.1 per cent.
 
Traders are also closely monitoring the US Federal Reserve and the number of unemployed applying for weekly welfare so that they could assess the direction of US interest rate, according to the Centre report.
 
The baht remained weak throughout this week due to buying of US dollar before the end of the third quarter and on concerns over the ongoing unrest situation in Hong Kong which has already depressed Asian currencies, it said.
 
Also, the baht was weak in line with net selling in the bond market and Thai equities by foreign investors while the greenback strengthened late in the week as investors adjusted their positions, the Centre added.



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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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