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Thai baht predicted to rise further in next months

Kasikornbank (KBank), the fourth largest lender by assets of Thailand, predicted the baht will continue to appreciate against the US dollar in the next few months, following brisk gains in January.
Thai baht predicted to rise further in next months ảnh 1
Thai baht predicted to rise further in next months ảnh 2Thai baht predicted to rise further in next months. (Photo: AFP/VNA)

Bangkok (VNA) – Kasikornbank (KBank), thefourth largest lender by assets of Thailand, predicted the baht will continueto appreciate against the US dollar in the next few months, following briskgains in January.

The bank predicted the Thai baht to rise to 31.2 THBversus USD next month and reach 30.8 THB per USD in April because of the highercurrent account surplus, driven by revenue from tourism and exports as well asinvestment in Thai bonds.

Head of KBank’s capital market research unit KobsitSilpachai forecast that the baht would reverse the trend in May as it is thetime listed companies pay dividends. Some SET-listed firms announced they wouldpay a total of 37 billion THB in dividends for their 2017 operations. Thosefirms paid out 70 billion THB in 2016.

Kobsit said the Thai currency will be more volatilethroughout 2018 amid both local and international uncertainty. US monetarypolicy is the main factor pressuring the US dollar against other currenciesworldwide.

The baht, which has risen 3.7 percent against the USdollar since early this year, is the best performing currency in Asia.-VNA
VNA
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