Krungsri Bank anticipates Thai baht fluctuation amid global market developments

Photo by Marek Okon on Unsplash

The Global Markets team at Krungsri Bank predicts a movement in the Thai baht this week within the range of 35.40 to 36.00 baht per US dollar. Last week, the baht closed weaker at 35.79 baht per US dollar after trading in the range of 35.43 to 35.82 baht per US dollar.

The dollar strengthened against the euro but held steady against the yen last week. The US general consumer price index (CPI) increased by 3.7% year-on-year in August, up from a 3.2% increase in July. Furthermore, the core CPI, excluding food and energy prices, rose by 4.3% in August, slowing from 4.7% in July.

In addition, the US retail sales and producer price index for August exceeded expectations, signalling that the economy might be slowing but not entering a recession.

The European Central Bank (ECB) decided to raise the deposit rate by 25 basis points to 4.00%, a record high…

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