Gaybutton Posted September 24, 2006 Share Posted September 24, 2006 BANGKOK, Sept 23 (TNA) Kasikorn Research Centre (KRC) predicts that the baht will hover at 37.30 to 37.70 per dollar next week in view of the coup d'tat. According to KRC, the Thai currency weakened and became volatile in the course of the week following Tuesday night's coup d'tat, though the baht was being traded at an over six year high in the currency market on September 15. The baht plunged to its weakest and most volatile within a single trading day at the New York currency market on Tuesday, to stand at 37.95, its weakest in seven weeks, as news of the coup emerged. The currency recovered towards end of the week, as investor confidence returned because of the absence of bloodshed or violence in the coup. The baht also gained on the back of exporters' currency trade and the strengthening of other regional currencies. For the weekly average, the baht was traded at 37.36 this week compared to 37.26 per dollar in the previous week. KRC projects that next week the baht will be traded from 37.30-37.70 as political developments continue to influence currency values. Other key factors affecting the currency include the announcement of economic data for the second quarter of the US economy. (TNA)-E007 Quote Link to comment Share on other sites More sharing options...
