Baht likely stand around 32.50-33.00 THB/USD

BANGKOK, 16 March 2010 (NNT) – The Thai baht is expected to move in the range of 32.50-33.00 THB to the US dollar this week, according to the Kasikorn Research Center (KResearch).

The movement of the Thai currency is expected to be influenced by the ongoing rallies of the United Front of Democracy Against Dictatorship (UDD), measures to stabilize the currency by the Bank of Thailand (BoT), and the directions of regional currencies.

Regarding movements of the US dollar, the currency’s values may be affected by results of the US FED meeting Tuesday, the EU finance ministers’ meeting on the financial crisis in Greece, economic data of the US, and results of the Bank of Japan meeting mid-week.

In addition, the short-term inflation rate is likely to be stable as liquidity in the money market may not change much. It will also be in line with the decision of the Monetary Policy Committee to stabilize the policy interest rate at 1.25% per annum on 10 March 2010.