The Thai baht was trading at 34.03 baht against the Us dollar on Monday, its lowest level in five years, on Fed’s rate hike fears and prolonged lockdown in China.
Bank of Ayudhya, or BAY, forecast that the baht would trade in a range of 33.85-34.25 baht to the US dollar this week, due to a sharp rise in bond yields amid signs of the Federal Reserve raising interest rates aggressively this year.
BAY believes that the baht remains weak and will continue to lose value in the second quarter.
