BANGKOK, 22 December 2013 The baht is expected to depreciate further at the end of the year due to the Fed’s tapering of the QE and political problems in Thailand. The currency is forecast to move between 32.40 – 32.75 baht against the U.S. dollar next week.
Kasikorn Research Center on Saturday reported that the baht might weaken from 23 – 27 December 2013 and suggested a close watch kept on the domestic political situation and the market’s position adjustment at the end of the year amid the Fed’s preparations to cut back on the QE.
The center also suggested investors in Thailand keep abreast of the country’s export figures and other key economic data in November 2013.
Last week, the baht made a 3-year record low at 32.645 baht to the U.S. dollar, depreciating in line with other currencies in the region after the Fed resolved to decrease its bond purchase by 10 billion USD a month to be effective in January 2014.
