The Thai baht, already experiencing a downward trend, could further depreciate against the US dollar, potentially reaching 36 baht to a dollar, according to Kasikorn Research Centre (K-Research). This forecast is contingent upon robust US economic data, set to be released later this week, which could indicate a resilient US economy. Additionally, any delays in the Federal Reserve’s proposed trimming of interest rates could contribute to this scenario.
K-Research has noted continued capital outflows due to Thailand’s weaker-than-expected economic results. The baht was trading between 35.76-78 against the US dollar on Thursday, a slight depreciation from Wednesday’s closing rate of 35.68, following the release of the US Manufacturing and Services Purchasing Managers’ Indices for January. Both indices recorded their highest levels in over half a year,…
