The Thai baht reached its strongest level in four and a half months, trading at 35.62 baht per U.S. dollar before closing the day at 35.64 on Wednesday.
Thai Baht Fluctuation Predicted Amid Key Economic Meetings
This appreciation was attributed to several factors, including a rise in the Japanese yen following the Bank of Japan’s (BOJ) decision to increase interest rates and gradually reduce government bond purchases. Additionally, the global rise in gold prices and positive net fund inflows from foreign investors into Thai bonds and equities contributed to the baht’s strength.
Kanjana Chokpaisalsilp, an executive at the Kasikorn Research Center, noted that the market is closely monitoring the U.S. Federal Reserve’s upcoming decisions, which could impact the dollar and other currencies.
Full story: National News Bureau of Thailand
Naark Rojanasuvan
National News Bureau of Thailand
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