Thai baht may hit 33 per USD at year-end in light of strengthening Chinese yuan

• Source: Xinhua
• [18:04 July 06 2009]
• Comments

Thailand's baht currency may appreciate to hit 33.00 one US dollar at the end of 2009, in line with the strengthening Chinese yuan currency and other regional currencies, if the global economy continues to recover, a
leading Thai private research house, Kasikorn Research Center (KResearch) said in its latest report.   

The Thai baht, which is currently trading at around 34.00 a US dollar, is 2.1 percent higher compared to its closure level at the end of 2008, the second rank after Indonesia's rupiah strength, the report said.          

The KResearch report said that if the global economy continues to recover, capital inflows will return to Asia, including Thailand, in searching for a better investment return. 

As the global economic recovery continues, amid the gradually economic recovery in China and other major Asian economies, the Thai baht is seen to strengthen in line with the Chinese yuan currency and other Asian currencies against the US dollar, the KResearch report forecasts.