KBank predicts Baht to be stronger in next 3 months

BANGKOK, 21 June 2010 (NNT) –Kasikorn Thai bank foresees Thai baht to be stronger in the next three months with the rate probably at 32.20 THB/ USD.

Kasikorn Thai Executive Vice President Songpol Chevapanyaroj stated that the baht currency would move in the rage of 32.20-32.30 THB/USD within the next three months, due to the increase of investors’ confidence from the expansion of export sector and the internal political improvement.

In the case of Chinese government’s measure to release Yuan from pegging the currency to US dollar, resulting in the strengthening of the Yuan and other currencies in the region, Mr Songpol viewed that the Bank of Thailand (BoT) would play a role in controlling the baht from volatility.

He added that the strength of Yuan would benefit Thai export in price competition particularly among the exports of agricultural, food and textile.