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Baht could touch 30.20 to the dollar by year-end


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Baht could touch 30.20 to the dollar by year-end

By THE NATION

 

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The baht opened at 30.34 to the US dollar on Tuesday, weakening from 30.28 at close on Monday.

 

The Thai currency is likely to move between 30.25 and 30.45, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.

 

On Monday night, the S&P 500 index rose by 0.6 per cent, due to positive reports on development of a Covid-19 vaccine.

 

Meanwhile, WTI crude oil price increased by 1.1 per cent to the highest point since late September. Gold price shrank by 1.9 per cent.

 

In Europe, the Stoxx 600 index fell by 0.2 per cent, as investors are wary of investing in the region in the post-coronavirus era.

 

In the financial markets, the dollar strengthened by 0.2 per cent, compared to the other main currencies.

 

The US Ten-Year Treasury increased by 3 basis points to 0.85 per cent.

 

In Thailand, the baht weakened due the present dollar situation. Jitipol predicted that the baht at the end of this year would strengthen to 30.20 to the US dollar, supported mainly by capital inflows.

 

Source: https://www.nationthailand.com/news/30398486

 

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-- © Copyright The Nation Thailand 2020-11-24
 
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2 hours ago, Brewster67 said:

I think the USD will have totally collapsed by then. many leading economists are predicting 2021 as the crash of the USD along with the US economy... The REAL US economy that is, not the fake one presented by the fed and Wall St.

 

I tend to follow Peter Schiff on this, he totally predicted the housing bubble bursting in 2008 and he is calling a total collapse on the USD and US economy ve3ry soon.

 

Biden will probably be the straw to break the camel's back.

 

Interesting comments. 

 

Edited by Baerboxer
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3 hours ago, Brewster67 said:

I think the USD will have totally collapsed by then. many leading economists are predicting 2021 as the crash of the USD along with the US economy... The REAL US economy that is, not the fake one presented by the fed and Wall St.

 

I tend to follow Peter Schiff on this, he totally predicted the housing bubble bursting in 2008 and he is calling a total collapse on the USD and US economy ve3ry soon.

 

Biden will probably be the straw to break the camel's back.

If the US dollar tanks the whole world tanks. I have been hearing this all my life .

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40 minutes ago, muffy said:

If the US dollar tanks the whole world tanks. I have been hearing this all my life .

That was before China, India and Russia opened up, American exposure while important isn't what it was.

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If the USD tanks and there is a collapse of the dollar, then that will mean that everyone will be not only trying to sell their dollar-denominated assets, but will be bailing out of USD funds.  If that happens then there will be a glut on the market, and no one will want to buy them.  Obviously this will drive the value of the dollar down to almost zero. If this happens It will make hyperinflation look like a day in the park.  At that point anyone who holds dollar-denominated assets will sell them at any cost. That includes foreign governments who own U.S. Treasury's, which will cause a global meltdown as well, while also It also affecting foreign exchange futures traders.  Would not be a pretty picture.  Collapses of major corporations, The foreign capital reserves for trade held by many countries in USD would be decimated, and so will the ability to buy anything on a global scale unless there is another monetary instrument that comes into play.

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7 hours ago, webfact said:

Baht could touch 30.20 to the dollar by year-end

They can say whatever they want ,Time will tell .

No one has crystal balls so  No one knows what's going to happen.

Forecasts/speculation, To me it means Nothing . one day or two days up rest of the week down .

Take it day by day.  

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7 hours ago, webfact said:

The Thai currency is likely to move between 30.25 and 30.45, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.

 

over what period of time? A day, a week, a momth, a year?

 

Oanda shows it now, 19:05 24th November, as 30.2736 baht per dollar....

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