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28 Aug 06 01:00
Baht to have limited movement this week
TNA
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The baht is expected to move in a narrow range of around 37.40-37.90 baht a US dollar this week compared with 37.67 baht a US dollar last Friday, according to a report issued by the Kasikorn Research Center (KResearch).
The report, released last Saturday, said that the Thai currency was anticipated to move in a tight range this week following a signal by the US Federal Reserve that further increase in key US interest rates is possible, while the US government prepares to issue several key economic data, including revised figures of US economic growth in the second quarter, on Wednesday.
On the domestic scene, currency traders are expected to closely monitor political developments and measures taken by the Bank of Thailand (BoT) regarding the baht, the KResearch said.
Finance Minister Thanong Bidaya and BoT Governor MR Pridiyathorn Devakula have separately stated that the most suitable level for the baht, which is favourable to the Thai export sector, is around 37.50-38.00 baht a US dollar.
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