The baht’s further upside bias to the US$34-mark is seen as a short-term run on the back of persistent offshore fund inflows, largely to the Thai bond market, prompted by a perception that the local currency is a safe haven, says a senior official at Phatra Securities.

The firmer baht is setting a trend as foreign investors are returning to the Thai debt market following fund repatriation to the US ahead of the Fed’s rate hike in mid-March, said Pipat Luengnaruemitchai, assistant managing director of Phatra Securities.

Full story: Bangkok Post

PAWEE SIRIMAI
BANGKOK POST