Thailand: Post-Brexit offshore fund inflows to strengthen the baht

• Aug 12, 2016

Thailand: Post-Brexit offshore fund inflows to strengthen the baht

Friday, 12 Aug 2016 – Kasikornbank (KBank) has revised upward its year-end forecast for the baht to 35.50 against the US dollar from the prior 36.20, citing a wave of offshore fund inflows in the wake of Brexit.
Britain’s vote to leave the EU and the prospects of a delayed US Federal Reserve rate hike have intensified capital flows fleeing to emerging markets from developed countries, said Kobsit Silpachai, head of capital markets and research at KBank. Offshore fund inflows have strengthened the baht and other currencies in emerging countries, he said. Read More?