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News Forum - Thai baht soars to six-month high against US dollar


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The Thai baht opened at 34.78 against the US dollar today, strengthening from yesterday’s close of 35 to a six-month high. The baht’s sudden rise is down to the Bank of Thailand’s (BOT) hiking the policy rate by a quarter point earlier this week. The BOT remains committed to a gradual monetary tightening policy, raising the policy rate from 1% to 1.25% on Wednesday. Economic growth this year is expected to be at 3.2%, lower than the prior projection of 3.3%, according to the central bank. The BOT also cut its 2023 growth forecast to 3.7% from 3.8%. Thailand’s currency […]

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Interesting that the currency of a country that recent reports suggested had a third of its citizens relying on benefits should be flying so high.

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It is not like the powers that be would manipulate and take secret counter measures to beef up the strenght of the baht. Or did they sell off all their Yuan reserves?

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It is odd. If the pound or dollar had lost 20% of its GDP overnight then they would plummet in value but the baht, even with all that loss of tourism, barely moved.

It is a mystery for sure.

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