English
Thailand: Baht hits one-year high against dollar
Thailand: Baht hits one-year high against dollar
Tuesday, 2 August 2016 – The baht hit a one-year high against the US dollar yesterday, tracking emerging-market currency strength as fading prospects of a US rate increase revved up investor appetite.
TMB Analytics vice-president Jitipol Puksamatanan said the baht’s passing of 34.76 against the greenback was a new high in a year, with capital inflows registering in domestic equities identified as the the main source of the currency’s appreciation together with Thai companies repatriating overseas dividends.
Both Brexit and weaker-than-expected US economic readings are seen as the main causes of the strengthening baht as greater fund flows have shifted towards investment in emerging markets, he said. Read More?