Currency and capital market strategist at the Krung Thai Bank, Jitipol Puksamatanan said that the Thai baht closed trading at 33.66 baht to the dollar on Monday, the strongest in the last 25 months.
He has attributed the strengthening of the Thai baht against the dollar to the United States selling off large amounts of their dollars and an inflow of foreign capital.
Mr Puksamatanan said that the rapid strengthening of the Baht could be linked to the weakening US dollar which is not expected to bounce back.
He said that the baht is likely to strengthen further next week and might rise as high as 33.50 baht to the dollar if fund flow continues to come into the country at the same rate.
Source : ThaiPBS
Content : LovePattayaThailand