Thai baht may fluctuate at around 34.45 baht – 34.85 baht next week, a record high in more than five months against the U.S. dollar, according a research powerhouse Kasikornthai Research.

The research firm attributed the rise to the central bank’s decision to intervene with the market to keep baht stabilized, and the continuously influx of foreign direct investment into the capital market.

Thai currency is reported managed to appreciate last week amid heavy selling of the U.S. dollar.

However, the appreciation trend tended to decline towards end of the week.

Kasikornthai Research suggested keeping an eye close to the U.S. economic data, which will be directly influence to the global currency prices.