Thailand: Kasikornbank: Baht 0.5% stronger in 2016
The baht strengthened by 0.5% in 2016 to between 34.50 and 36.40 baht to the dollar, according to the research unit of Kasikornbank.
The local currency appreciated in the first quarter of 2016 when it remained unclear when the Federal Reserve raise its policy interest rate but had since eased as the trend became clearer.
The local currency appreciated to test 35.80 to the dollar after a wave of greenback sales following disappointing US economic data, Kasikorn Research said.
On Friday, the baht traded at 35.80 compared to 35.79 on the same day last week.
For the first week of 2017, KResearch prodicted the local curency to move in a range between 35.70 and 36.10 to the dollar.
The events to watch out for is the US Fed statements and the economic data of the US and other major economies.