Send a wire transfer in a currency that is different from the currency of the account you are sending from or.Purchase a draft in a currency that is different from the currency you are using to buy the draft.Purchase foreign currency in cash from us, or we purchase foreign currency in cash from you.We set the exchange rate for foreign currency purchases associated with many services, such as when you: Exchange rates fluctuate throughout the day. For example, the exchange rate determines how much in Canadian Dollars it will cost to purchase U.S. A foreign currency exchange is a purchase that occurs when you purchase foreign currency from us or we purchase foreign currency from you.Īn exchange rate is the price at which one currency can be purchased or sold for another currency. When we refer to foreign currency, we are referring to a currency other than Canadian Dollars. "In particular, US treasuries with maturities between one month and one year yield roughly 4-5%, whereas Thai treasuries with the same tenure range only provide returns at a level lower than 2%," he said.This information is for our Personal Banking Customers. Yields on US treasuries, for example, were elevated this month to a risk-free rate, significantly higher than those of Thai government bonds. Mr Sornchai said if the baht does not fall below 35 baht to the doller, it would be a good opportunity to exchange baht for dollars to diversify portfolios offshore, as the yield would provide higher returns than investing solely onshore. "Key factors to monitor include the trend of foreign investments, the movement of Asian currencies, as well as export figures and Thailand's economic figures for January," said the research house. SCB CIO projects the baht to recover and strengthen, reaching a rate of 33-34 to the dollar by year-end, Mr Sornchai said.Īccording to Kasikorn Research Center, the baht is expected to trade around 34.50-35.30 to the dollar this week. "After this hike, the US dollar could reverse and begin to depreciate again over the medium to long term, which is expected to be more than six months," said Mr Sornchai.įollowing China's reopening of its borders, SCB EIC upgraded its estimate for international visitors in 2023 to 30 million, from 28.3 million, and believes foreign arrivals will equal the 2019 record of just below 40 million in 2024. SCB CIO expects the Fed to lift rates for a final time in May, bringing the US terminal rate for this year to 5.25%. The US currency is expected to experience a short-term appreciation, causing the baht to depreciate, after the US Federal Reserve signalled it would continue to battle inflation through interest rate hikes. However, Thailand's current account balance surplus is likely to grow in the medium to long term as tourism continues to recover, said Sornchai Suneta, executive vice-president of SCB CIO. ![]() ![]() The dollar's short-term appreciation is one of the factors contributing to the baht's short-term depreciation, along with Thailand's modest current account surplus. ![]() The baht, analysts said, was under pressure from capital outflows from the Thai stock and bond markets amid the dollar appreciation. The Thai currency traded below 35 baht to the dollar yesterday, moving in a range of 35.15 to 35.38, amid continued concerns over US interest rate hikes. The baht is likely to recover and strengthen to 33-34 to the US dollar by the end of 2023, as the greenback could go into reverse and start to depreciate in six months, says SCB Chief Investment Office (CIO).
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