Why the Thai baht will not fall in 2019

This entry was posted on 2019-01-26

With substantial foreign exchange reserves, a moderate debt and a chronic surplus in its balance of payments maintained by exports and a very dynamic tourism, the Thai baht ticks all the boxes of a currency that can only rise.

Thanks to Thailand's huge foreign exchange reserves of US $ 207 billion, Thailand's baht has grown about 5 percent against the dollar in the past six months - the highest in the world. world, according to data compiled by Bloomberg.

The current account balance represented 10.8 percent of GDP in 2017, thanks to rising tourism receipts, and is also the eighth highest in the world, according to data compiled by the International Monetary Fund.

According to Kasikorn Bank forecasts, the value of the baht could appreciate up to 31.50 against the US dollar this quarter, as current global financial volatility encourages investors to move to new safe haven destinations.



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