The #Thai baht finished in spectacular fashion after a year as one of the world’s most stable currencies, when it reached 30.15 baht against the US$, its highest level in six years.
Kasikornbank Bank is forecasting that the Thai baht could move into a range of 30-30.30 baht to the dollar this week (up to January 3).

Investors have been selling USD after US economic data showed signs of disappointments such as weaker-than-expected orders for durable goods and lower new-home sales, finishing off a patchy year in a jittery US economy.

The baht was up 8% over this year after a 2018 closing price of 32.55 baht to the US$.

The Thai baht’s appreciation has been driven by the Thailand’s strong current account surplus and investor sentiment that the baht has been a ‘safe-haven’ currency.

But the baht’s strength has been challenging for the local economy, driving exports down and pushing up prices for tourist spending power.

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