Welcome to Pure FX's latest update of the Thai baht to pound interbank exchange rate.
This tells you what could happen to the Thai baht to pound interbank exchange rate in 2018!
The baht could climb against sterling next year! The Thai baht to UK pound sterling interbank exchange rate could rise above its current 43.76 in 2018. Here are 5 reasons why:
1. The baht could climb against the pound, because Thailand's GDP expanded by +4.3% in Q3, the most in 4.5 years, or since early 2013, and could rise further.
In particular, Thai GDP could rise further, thereby lifting the baht versus the pound, because Thailand has ended its year-long mourning period for King Bhumibol, who died last October.
In turn, it's thought that this will revive Thailand's tourism sector, bringing visitors to well-known areas such as Bangkok, Phuket, Pattaya and Chiang Mai. As a result, Thai GDP could jump, and the baht too!
2. The Thai baht to UK pound interbank exchange rate could fly higher, as Thailand's government is planning a vast infrastructure project, called 'Thailand 4.0'.
This could bolster Thailand's baht against sterling, because it's hoped that the Thai government's 'Thailand 4.0' project will accelerate Thailand's economic development.
In particular, 'Thailand 4.0' intends to turn an old Eastern industrial area into the Eastern Economic Corridor (EEC), focused on high-value, high-productivity sectors like robotics, aviation, biofuel, digital and medical technology!
3. Thailand's baht could shoot up against sterling in 2018, as Thailand's exports are rising above forecasts.
Also, the Thai baht to pound interbank exchange rate could rise further, as Thailand's Commerce Ministry reckons that Thai export growth will near +10% this year.
Already in 2017, Thai exports have totalled US$95.5 billion, up +9.7% year-on-year, as demand for Thailand's goods has grown internationally, thanks to a global economic comeback. So this trend could continue in 2018 too!
4. The pound may fall, as EU chief Brexit negotiator Michel Barnier said recently that there's 'no way' the UK will get a bespoke trade deal.
Meanwhile, sterling could lose out in 2018, as EU chief Brexit negotiator Michel Barnier has poured cold water on the UK's hopes for a bespoke trade deal with the EU, after Brexit.
Speaking to Prospect magazine recently, Mr. Barnier said 'no way' to talk of a bespoke deal. '[The British] have to face the consequences of their own decision,' added Mr. Barnier, which may hurt sterling!
5. Sterling could weaken in 2018, as UK inflation rose to +3.1% in November, the most in almost 6 years.
In addition, the Thai baht could also triumph against sterling next year, because price pressures in the UK reached +3.1% in November, the highest since March 2012, said the UK's Office for National Statistics recently.
This could weigh on the pound in 2018, because this high inflation will eat into Britons' spending power, and in turn slow the UK's economic growth, at the time of Brexit!
With all this in mind, the Thai baht could well rise against the pound in 2018!
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Please bear in mind, this article is Pure FX’s opinion only and does not constitute advice. Moreover, the exchange rates referred to in this article are the interbank rates, which are the rates at which banks and financial institutions buy and sell currency to each other. Therefore these exchange rates cannot be accessed by individuals or SMEs, and are not the same rates that Pure FX can offer. To get a free exchange rate quote, call us on +44 (0) 1494 671800, or email email@example.com.