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Baht speculation is now on the DOWNTURN

Baht speculation is now on the DOWNTURN

Speculation of the baht has slowed down after the central bank imposed measures to discourage foreign investors from parking their short-term funds in Thailand, said Central Bank Governor Veerathai Santiprabhob at the Bank of Thailand’s Symposium 2019. 

“Lately, foreign capital flows have turned into negative as funds leave the country,” he said.

Slide of local bond yields closer to the level in US has also made Thai bonds less attractive, he said.

Fund flows of foreign investors to stock and bond markets are now on the downtrend, he added.

His comment came amid exporters’ complaint on the strength of the Thai currency. Some want the baht to stay at Bt32 per dollar.

Kasikorn Research Centre reported that the baht weakened to Bt 30.64 per dollar on Friday (September 27) from Bt30.46 on the previous Friday(September 20).

It moves around Bt30.60 per dollar today.

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