Bangkok, Thailand. Photo: Unsplash.com
The favorite destination of Finns has been Thailand for years.
The baht is Thailand’s official monetary unit, which is divided into one hundred satangs. The Bank of Thailand issues banknotes and coins denominated in baht. Baht is also an old unit of weight, still used in goldsmith shops like the ounce, and is equal to 15.244 grams.
Recently, the baht has been slowly strengthening, especially against the US dollar, but also against the euro. In the future, the analysts guess e.g. The US presidential election and the instability of world markets will also affect the exchange rate of the baht.
On Tuesday, one US dollar was 33.90 baht, which meant that the baht had strengthened further from Monday’s quote of 33.96. Compared to the euro, the baht was 37.235 according to the exchange rate of the Bank of Finland on Tuesday. Careful readers have already noticed that the Thai Finn has also started to use the exchange rate 37 instead of 38 when converting baht to euros, says Thai Finn website.
Krungthai Bank exchange rate analyst Poon Panichpibool estimates that the baht will move around 33.80 against the dollar in the near future. That is, if nothing unexpected comes up in today’s (Wednesday, September 11) election debate between the US presidential candidates.
– The baht can also strengthen further if foreign investors continue to be active in the Thai stock market, Poon points out, the site says.
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