BANGKOK, Thailand – Thai baht closed at 34.72 per US dollar on November 20, compared to the previous day’s close of 34.60. The baht strengthened in the morning, in line with the rise in global gold prices, but weakened in the afternoon due to pressures from foreign fund flows. The US dollar began to recover, and the market shifted focus to evaluate policies and measures from US President-elect Donald Trump.
In terms of foreign fund flows, foreign investors sold a net total of 1.352 billion baht in Thai stocks and were in a net outflow position from Thai government bonds, with a net outflow of 3.273 billion baht.
For Thursday’s baht outlook, the expected range is 34.50-34.90 per US dollar. Key factors to watch include foreign capital flows, Asian currencies, global gold prices, and key US economic data, such as weekly jobless claims, the November Philadelphia Fed manufacturing survey, and October existing home sales.
