Thai Baht
- Business News
Baht to hit 37.25 per US dollar amid global currency slump
The Thai baht is expected to plummet to 37.25 against the US dollar in the near future, as Asian currencies have weakened to their lowest levels since 2022. This decline is driven by ongoing global volatility and outflows from Thai stock and bond markets amid uncertainty surrounding US interest rate cuts, according to economists. The Thai currency yesterday dropped to…
- Business News
Thai baht leads Asian currency declines amid holiday trade
Emerging Asian currencies experienced declines in holiday-thinned trade today, with the Thai baht leading the fall as the US dollar remained firm and Chinese economic data highlighted an uneven recovery trajectory. Markets were notably quiet across Asia due to closures in Singapore, Malaysia, Indonesia, the Philippines, and India. The Thai baht declined by up to 0.5%, influenced by weaker gold…
- Business News
Baht hits two-week high but faces long-term depreciation risks
The Thai baht surged to a two-week high yesterday, surpassing 36.5 to the dollar, marking a strong short-term gain. However, Kiatnakin Phatra Financial Group (KKP) has issued a cautionary note about the potential depreciation of the currency, attributing it to persistent structural issues in Thailand’s economy. Yesterday, the baht led gains among Asian currencies, appreciating by 0.3% to its highest…
- Business News
Thai baht finds its groove: Depreciation rate takes a dip
The Thai baht experienced a lessening in its depreciation rate in April, buoyed by an uptick in the country’s economic performance. A leading figure from the country’s central bank anticipates that the local currency will make a recovery in the second half of the year. In the initial quarter of this year, the baht saw a 7.8% decline against the…
- Business News
Weakening Thai baht forecast due to economic cost factors
Analysts predict a decline in the value of the Thai baht, the nation’s currency, attributed to various factors such as sluggish economic growth, elevated freight expenses, and discord regarding reductions in interest rates. It is anticipated that the baht will fluctuate within the range of 36 to 36.50 against the US dollar throughout this month. On Wednesday, the baht recorded…
- Business News
Thai baht’s future forecast: Dollar domination looms on the horizon
Predictions by Kasikorn Research Center (K-Research) indicate a potential decline in the baht to 37 against the US dollar in the coming year. This anticipated depreciation is linked to a combination of a faltering Thai economy and a delay in American interest rate reductions, thereby placing the Thai currency under considerable strain. Kanjana Chockpisansin, K-Research’s head of banking and financial…
- Business News
Baht falls to three-month low as US inflation delays rate cut
The Thai currency hit a three-month low against the US dollar yesterday, February 14, slipping below 36 to the dollar. This was attributed to higher-than-anticipated US inflation, which led the market to predict a delay in the Federal Reserve’s first interest rate cut, initially expected in May. Quoting Kasikorn Research Centre, the baht was valued at a low of 36.13 against…
- Business News
Thai baht surges as US dollar weakens ahead of Federal Reserve meeting
The Thai baht experienced an upturn against a weakening US dollar, with investors predicting the US Federal Reserve to hold its policy rate steady in the upcoming meeting this week. The baht yesterday, January 30, initiated at 35.38 to the dollar, a rise from Monday’s close at 35.58. The local currency fluctuated between 35.28 and 35.45 against the dollar and…
- Thailand News
Thai CEO donates 1 million baht at singer Kong Huai Rai’s concert
A donation of 1 million baht was bestowed upon the popular singer Kong Huai Rai by Ninew-Niphanrat Salika, the young, wealthy CEO of a world-renowned brand. The generous contribution, made during one of Kong’s concerts, has been deemed the largest garland he has ever received. Kong Huai Rai shared the news with his Facebook followers, posting a picture of the…
- Business News
Thailand’s chat commerce predicted to hit 1.14 trillion baht by 2028
Chat commerce in Thailand is expected to reach a staggering 1.14 trillion baht by 2028, according to predictions by Line Thailand. This substantial increase, up from 462 billion baht in 2023, represents a compound annual growth rate of 19.2%. Jirat Watanakarin, who heads e-commerce growth and strategy at Line Thailand, said Thailand is one of the world’s largest markets in…
- Business News
Thai baht predicted to appreciate amid expected US interest rate cuts
The Thai baht is predicted to appreciate to 33 against the US dollar in the near future, as the market anticipates an early start to US Federal Reserve interest rate cuts, possibly as soon as March. This expectation could trigger an inflow of funds into the Thai currency. The baht registered at 34.26 to 34.28 per US dollar yesterday, a…
- Business News
Thai baht hits six-week high ahead of Federal Reserve meeting
The Thai baht reached a six-week high against the US dollar yesterday morning, trading at 35.86. Analysts predict further appreciation if the Federal Reserve does not provide clear indications regarding United States interest rate trends at its upcoming meeting. As Head of Research at Kasikorn Research Centre, Kanjana Chockpisansin observed that the baht’s quick appreciation from 36.50 to the US…
- Business News
Currency crunch: Thai SET under strain as rates rise and baht bites
A recent policy rate hike of 0.25% by the Bank of Thailand, coupled with the weakening baht, is placing pressure on the Stock Exchange of Thailand (SET). Analysts have suggested this after observing that the index slipped below the resistance level of 1,500 points. The Thai bourse experienced a downturn at the opening yesterday, following a 0.88% drop to conclude…
- Business News
US dollar surge hits Asian currencies: Thai baht suffers
Asian currencies experienced a dip today, with the Thai baht and Indonesian rupiah bearing the brunt of the losses. This was mainly due to the rising strength of the US dollar, bolstered by robust economic indicators and the threat of inflation from the Federal Reserve, which have pushed US bond yields to a 16-year peak. The baht saw a fall…
- Economy News
Baht depreciation: Experts foresee currency’s decline amid global market turbulence
Financial experts are predicting a further depreciation of the baht throughout this month and next, due to the increased volatility in the global money and capital markets. This follows the US Federal Reserve’s recent suggestion of a potential increase in its benchmark interest rate. Poon Panitchpibun, a strategist at Krungthai Global Market, a research centre of Krungthai Bank, noted that…
- Business News
Thai baht instability rises due to political unrest
Political unrest is heightening baht oscillations against the US dollar, as Thailand finds itself without a stable government, the head of the Bank Thailand asserts. This turbulence introduces a greater risk factor amongst investors who are observing the foreign exchange rate, particularly between the baht and the US dollar, in light of Thailand’s current political developments. Post Thailand’s General Election…
- Economy News
Business uncertainty fuels Thai Baht dip amid political unrest and Asian currency devaluation
Embroiled in political and business uncertainty, the Thai baht plummeted to a low unseen since last November, a seven-month dip, agitating investor confidence. This occurred alongside a universal lowering in the value of various emergent Asian currencies versus an emboldened dollar, fuelled by robust US data allaying recession fears. Stock markets in the region largely painted a bleak picture, with…
- Business News
Baht volatility looms amid political risk and new government formation
Kasikornbank (KBank) has warned investors that the formation of a new government and political risk may result in increased baht volatility over the next month. The bank forecasts that the baht will fluctuate between 33.80-35.40 per US dollar during this period due to various internal and external factors. The primary determinant is the direction of the US Federal Reserve’s policy…
- Economy News
Thai baht soars as voters back pro-democracy parties
The Thai baht hit a five-week high this morning after pro-democracy parties came out as the biggest winners in yesterday’s General Election after nearly a decade of military-backed rule in Thailand. The baht rallied 0.9% this morning to 33.70 against the greenback for the first time since April 5 after opposition parties Move Forward Pary (MFP) and Phue Thai won the…
- Thai Life
Thailand: Check your 20 baht bills, they might be worth more than you think…
A Thai coin and banknote collector is offering big cash for a rare kind of 20 baht bill that could be in anyone’s wallet in Thailand. Some of the new plastic polymer 20 baht bills which entered circulation last year were printed without a vertical line on the left-hand side, as seen in the picture. “Gig” the rare money collector…
- Thailand video news
Phuket is facing labour shortage | GMT
This week’s episode of Good Morning Thailand is sure to be a lively one, with a range of topics that will be sure to capture the attention of viewers. The first topic of discussion is the recent surge of the Thai baht, which has been attributed to the collapse of a major US bank. The panel will be discussing the…
- Economy News
89% of bank accounts in Thailand hold less than 50,000 baht
The Bank of Thailand (BOT) reports that 88.88% of bank accounts in Thailand hold less than 50,000 baht (US$1,423) in deposits, according to Komchadluek. In total, there were 121.4 million bank accounts in Thailand at the end of 2022. Of those, 98.5 million (88.88%) held less than 50,000 baht and 1,023 bank accounts (0.0008%) held more than 500 million baht.…
- Thailand video news
Thailand welcomed 2.14 million international tourists last month | GMT
Thailand is a country that is home to the most motorcyclists in the world and is currently in the process of haggling for discounted SEA Games broadcasting rights. Last month, the country welcomed 2.14 million international tourists, however, the recent news of a foreign tourist being slapped by a Khao San Road bouncer has caused concern. In more positive news,…
- Thailand video news
Call for Covid boosters before wave of Chinese tourism | Thailand News Today
Thai baht and Singapore dollar battle for strongest regional currency China is reopening its borders, pushing economists to predict that an influx of Chinese tourists to Thailand will propel the Thai baht into Southeast Asia’s reigning currency in 2023. But the baht has one regional competitor: the trusty Singapore dollar. Thailand’s economy heavily depends on tourism revenue. In 2019, Chinese…
- Thailand News
Thai man exchanges fake US dollar bills for baht at two banks in Thailand
Yesterday, police arrested a Thai man in Pattaya who successfully exchanged fake US dollar bills for Thai baht at two banks in Thailand. The suspect said he was paid 2.5% of the cut to commit the crime. Police seized 759 counterfeit US dollar bills upon arresting 54 year old Nawat Singhawak in Chon Buri province’s Bang Lamung district yesterday. First,…
- Economy News
Thai baht depreciates against US dollar
After a recent surge of strength by the Thai baht earlier this month, it has now depreciated against the US dollar. As of today, December 16, the baht now stands at about 35 per USD, according to an executive at Kasikorn Research Center, Kanchana Chokpaisarnsilp. Yesterday, the baht was at 34.92 per USD, Daily News reported. Market strategist Poon Panichphiboon…
- Economy News
Thai baht soars to six-month high against US dollar
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%…
- Economy News
Bank of Thailand to raise interest rates on Wednesday
Bank of Thailand (BOT) Governor Sethaput Suthiwartnarueput today announced interest rates will be raised on Wednesday to deal with potential inflation increases. Governor Sethaput is expected to raise interest rates by a modest quarter-point to take the benchmark rate to 1.25% underscoring ongoing worries about growth in Southeast Asia’s second-largest economy. Thailand’s economy lagged its Southeast Asia contemporaries and is…
- Economy News
Fate of Thai baht depends on return of Chinese tourists, economists say
The Thai baht has been flying recently but its upward trend could draw to a standstill unless Chinese tourists return to the Kingdom of Thailand, according to economists. In the past month, the baht appreciated almost 6% against the US dollar as reports indicated the US Federal Reserve (Fed) would slow down its aggressive interest rate hikes. Despite inflation, a reinvigorated…
- World News
US Federal Reserve hikes up interest rates again
The United States Federal Reserve approved yet another aggressive interest rate hike yesterday in their quest to combat persistent inflation which is at a 40-year high in America. It is the fourth consecutive 0.75% interest rate hike approved this year. The central bank has raised the policy rate from near zero in March to what is now between 3.75-4%. It…
