Kasikorn Bank: Baht to strengthen next year
Published: 25/11/2009 at 02:52 PM
Online news: Breakingnews
The baht’s appreciation against the US dollar would likely continue through next year, a senior Kasikorn Bank official said on Wednesday.
Thiti Tantikulanan, head of bank’s Capital Markets Business Division, said the Thai currency was expected to strengthen to 32.25 baht to the dollar in the first two quarters of 2010 and 31.30 baht in the second half.
The recovering global economy, the dollar’s movement and the intervention by the Bank of Thailand would still be the main factors affecting the baht’s value, Mr Thiti said.
Commercial banks were expected to approve loans totalling 60 billion baht this year and 130 billion baht next year.
He said banks this year offered loans to support different state projects and alternative energy businesses as they had potential for expansion.
In the bond market next year, the business sector would likely issue 225 billion baht of debentures, he said.
