CEOCambodiaNews wrote: ↑Sun Oct 27, 2019 8:19 pm Baht to further strengthen, expert warns
The baht could further strengthen to Bt29 per dollar, a Kasikornbank analyst warned this week.
26/10/2019

In an economic climate deeply affected by the US-China trade war and a global slowdown, the baht is expected to strengthen further, reaching Bt30.50 to the US dollar by the end of the year, Kobsidthi Silpachai, head of capital markets research at Kasikornbank said

It could appreciate to between Bt29.20 and Bt29.30 by the end of next year, a 5-year high, he added.

This was due to a number of factors, the first being that the US-China trade war would continue to depress the global economy. The chance of global economy entering recession next year now stands at 26 per cent, and could lead to more capital flowing in to subscribe to Thai bonds.

The second factor is the high possibility that international rating agencies Moody’s Investors Service and Fitch Ratings will upgrade Thailand’s sovereign credit rating from triple B plus to A minus (BBB+ to A-) in the next 12 months. The market has priced in coming credit upgrades as the rate of credit default swap (CDS) of Thai debts has been below the rate charged for BBB+ rating for a while, he noted.

Third, Thailand’s high current account surplus, the combined result of tourism revenue, fall in imports and low domestic investment would continue to underpin the strong baht.
http://www.samuitimes.com/baht-to-furth ... ert-warns/