Thailand: Baht surges to its strongest level in 10 months

The bath strengthened to 33.06 per United States dollar on Friday morning, the highest level in 10 months, according to Kasikorn Research Center (KRC).

The Thai currency appreciated from 33.36 to the dollar when the market closed on Thursday, centre’s research executive Kanchana Chokpaisarnsilp said. 

The stronger baht came after the inflation, measured by the US consumer price index, had slowed to market expections of 6.5% year-on-year in December (from 7.1% in November). 

Other Asian currencies have also strengthened amid the dollar sell-off. 

The baht on Saturday is expected to stand at 32.90 to 33.25 per dollar. Factors to be monitored include the directions of foreign capital, China’s yuan and other Asian currencies as well as foreign economic figures such as China’s export figures in December and consumer confidence index for January, said Ms Kanchana.