Dollar Set To Rise Against Thai Baht

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Posted: 01 Jan 2012 | 6:00 am

Standard Chartered Bangkok Thailand is forecasting the appreciation of the US dollar against the Thai baht up to THB32.5 in the first quarter of 2012.

Financial uncertainty in the Eurozone have been cited as a critical factor.

Domestically Thailand looks set to take a heavy hit in 2012 with the negative impact to GDP from the flooding and ensuing damage to industrial output.

In an economy heavily leveraged on exports, the outlook for the sector remains cloudy.

Another pressure point looks to be the tightening of bank debt by local banks which would substantially impair the property and hospitality sectors.

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