Gaybutton Posted July 9, 2007 Share Posted July 9, 2007 The baht is continuing to strengthen against the US dollar. The closing rates today, Monday, July 9, are: US Dollar: 33.71 Euro: 45.81 British Pound: 67.685 Australian Dollar: 28.78 Canadian Dollar: 32.01 _____ BANGKOK, July 9 (TNA) The Stock Exchange of Thailand’s composite index and the baht continued to hit new high in a decade with the index closing in the morning trading session at 848.80, up 16.42 points or 1.97 per cent with a heavy trading volume of 19.18 billion baht and the currency reaching a range of 33.98-33.99 to the US dollar. The SET index jumped almost 13 points at the opening bell to 845.31 before losing momentum due to profit making by investors. However, it had recouped later and managed to close at a new high of the day at 848.80 points, led by blue-chip stocks in the energy and banking sectors. Pongpan Apinyakul, a senior analyst of Kim Eng Securities Plc, said the company had revised the index projection upward to 850 by the end of this year from 832.38 points. But in his personal view, the SET is likely to rally to 860 points given the improved economic outlook, clearer political direction, foreign investment in Asian stock markets, particularly SET where stock prices are lower than those of neighboring countries. At the same time, profits of listed companies are expected to increase by 3-5 per cent from an earlier projection of contracting by 2-3 per cent due to better management of listed firms. On the baht direction, a money dealer said the currency is likely to hit a record high next week at 33.80 to the dollar since the greenback continued to weaken and the foreign capital to flow into the stock market in a large amount. (TNA) – E005 Quote Link to comment Share on other sites More sharing options...
Guest fountainhall Posted July 9, 2007 Share Posted July 9, 2007 The baht's rise from over 40 to US$1 has been going on for about 18 months now. How come the prices of imported goods in the shops don't seem to have moved downwards? Yes, I know, this is Thailand! Quote Link to comment Share on other sites More sharing options...
Guest wowpow Posted July 11, 2007 Share Posted July 11, 2007 Bounce for fun. Somebody has opened two trails on this topic but go to the Original and best one by ME! Baht at strongest level since floated in 1997 ) Quote Link to comment Share on other sites More sharing options...
Gaybutton Posted July 11, 2007 Author Share Posted July 11, 2007 Somebody has opened two trails 'Treasure trails' no doubt. Quote Link to comment Share on other sites More sharing options...
