KBank's Strategic Acquisition in Muang Thai Group Holding
K
KASIKORNTHAI
Thailand Economic Figures
บริการทุกระดับประทับใจ
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
K
KASIKORNTHAI
Currency and Interest Rate Outlook (As of July 2023)
USD/THB: End Period
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
Interest Rate Trend
Bt
332
371
33 30,60
32.68
135.97 35.84
32.91
32.66
32.55
29.98
29.95 33.41
34.633.50-34.00
10.00
Fed Funds rate
BOTS 1-Day Repurchase rate
5.25-5.50
5.00
2.25
2.00
4.25-4.50
1.50
1.50
1.50
1.50
0-0.25 0-0.25 0.25-0.50 0.50-0,75 1.25-1.50 2.25-2.50 1.50-1.75 0-0.2550 0-0.29.50
1.25
1.25
2.25
29
0.00
Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-201 Dec-21
Dec-22 Dec-23F
4Q12 4Q13 4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21 4Q22F 4Q23F
USDT HB
■ Baht weakened amid uncertainties from Fed
moves and Thai internal factors pushing THB
above 35.00 per USD late-June
However, at 2023 year-end, Baht could reach
33.50-34.00 per USD, as the Thai economy
continues to recover, thanks to strong support
from tourism recovery, amid some pressure from
slowed exports
■ Recently, Baht has moved correlatedly with gold
price, while the weakening of the Yuan and Yen
put pressure on Asian currencies
■ The Fed paused its rate hike in June, but Fed's dot
plots said the hiking cycle has not been over yet
with two more rate hikes, but the markets expect
only one more rate hike
■Fed's interest rates at the end of 2023 are expected
to be 5.25-5.50%
■ BOT expressed a hawkish tone for its gradual
hiking path, amid decreasing inflation
■ BOT's interest rate is expected to be 2.25% at the
end of 2023
Note: F is estimated by KBank Capital Markets Research (as of July 5, 2023)
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