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BankThai Revises Rate Target to 38.5 Baht Per US Dollar.
Byline: Darana Chudasri
Oct. 5--BankThai has revised its foreign-exchange rate target to 38.5 to the US dollar by year-end, up from 39 earlier, on expectations of increased capital flows as ratings agencies upgrade their credit assessment for the country.
Anusorn Tamajai, a senior vice-president, said the baht was now expected to average 41 to 41.5 to the dollar for the entire year, compared to earlier projections of 42.5. The baht last week ended trade at 39.5 to the dollar.
"The main factor which will help the baht appreciate is the expectation that Moody's and Standard and Poor's will upgrade Thai ratings in the fourth quarter or early next ...
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Source: HighBeam Research, BankThai Revises Rate Target to 38.5 Baht Per US Dollar.