Executives of commercial banks have forecast that the Thailand currency is likely to fluctuate more than last year, mainly due to the uncertainty about the policies of the new US president.
Executive of Kasikornbank Kiit Charornkitchaichana said the US politics was the key factor affecting the Thai currency during this period. This year, THB will have a tendency to fluctuate either by depreciating and appreciating quickly. The bank forecast the THB’s value this year will stay around 35-37 THB to the USD, said the executive. TMB Analytics of TMB Bank has predicted that this year’s currency will be on the depreciation side, although it appreciated against the USD in the last two weeks. This the THB baht appreciation was the result of USD currency speculation, said the bank. TBM added that the Thai economy and other economies in the Asian region will rebound this year, leading to capital inflows. The THB is likely to move between 35.50 – 36.80 THB to the USD. – NNT