Banking
Kasikornbank forecasts dollar at 25 Thai baht within two years
The Kasikornbank research unit forecasts the Thai baht will reach 28 baht per US dollar next year and keep rising to hit 25 baht within two years.
The Kasikornbank research unit forecasts the Thai baht will reach 28 baht per US dollar next year and keep rising to hit 25 baht within two years.
Wiwan Tharahirunchote, executive chairman of the research unit, said the baht will keep rising next year in line with the weakening dollar, foreign capital inflows and the country’s trade surplus.
The baht has appreciated by 10.3% to 29.95 to the dollar for the year to date, the second highest among Asian currencies behind the yen.
“It is possible to see the baht touch 25 baht to the dollar, but it will probably take a year or two. Exporters should set their prices to offset a currency gain of 10% from the actual exchange rate,”
said Mrs Wiwan.
KBank forecasts Thai GDP growth between 3.5% and 4.5% next year as the world recovery is still wobbly, meaning exports will grow only 9-10% after this year’s 24.5% expansion.
In 2011, it predicts the trade surplus will fall to between $4.5 and $7.6 billion, below this year’s $10 billion, while the trade account balance is estimated at $5.5 billion to 8.6 billion from this year’s $9.8 billion.
via Bangkok Post : KBank sees baht at 25 in two years.
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