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Thai Baht set to weaken

Thai baht is set to weaken following foreign capital outflows from the stock and bond markets.

The Thai baht today is traded at Bt35.13 per US dollar, gaining nearly 2 per cent since the beginning of this year.

Maybank Kim Eng Securities (Thailand) expects a reversal of the trend this month due to tightening by the US Federal Reserve.

Net foreign outflows yesterday were tuned at Bt6 billion: Bt2.4 billion from stocks, Bt2.8 billion from short-term bonds and Bt0.8 billion from long-term bonds.

Foreigners were also net sellers of Thai stocks and bonds on Monday, with net-sell positions worth Bt3.2 billion.

Source: http://www.nationmultimedia.com/

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