By 23 March, the Thai baht (THB) traded at 30.7 per USD, which was 1.0% weaker than the same day the previous month. At the current level, the baht is trading 1.7% weaker compared to the same month last year. The March reading follows on the almost uninterrupted downward trajectory since 29 February, when the baht reached a six-month high and closed at THB 30.2 per USD. The THB has depreciated on the back of lower risk appetite for emerging market assets as well as the Bank of Thailand's decision to maintain the one-day repurchase rate unchanged at 3.00% at its last policy meeting. According to market analysts, the THB is like to resume yet another upward trend, as the government plans to borrow THB 1 trillion (USD 32 billion), over the next two years to finance the fiscal deficit and infrastructure projects, including those aimed at preventing floods.
Thailand Exchange Rate
Baht weakens in March
March 23, 2012
Looking for forecasts related to Exchange Rate in Thailand? Download a sample report now.
Thailand Economic News
October 17, 2016
On 13 October, Thailand’s beloved King Bhumibol Adulyadej died after a 70-year reign and his successor, Crown Prince Maha Vajiralongkorn, has declared his wish to wait until he ascends the throne.
October 4, 2016
In September, consumer prices inched up 0.04% from the previous month, which contrasted the 0.04% decrease observed in August and overshot market expectations of a 0.1% increase.
September 30, 2016
In August, the trade balance recorded a USD 2.1 billion surplus, which was above the USD 0.7 billion surplus observed in the same month of the previous year and was also higher than the USD 0.8 billion surplus registered in July.
September 30, 2016
In August, manufacturing production increased 3.1% over the same month last year, which was a sharp upswing from the 5.0% contraction seen in July and marked the highest reading in over three years.
September 14, 2016
At its 14 September monetary policy meeting, the Bank of Thailand (BoT) decided unanimously to keep the one-day repurchase rate at 1.50% as the markets had expected. In its press release, the Bank commented that the Thai economy had accelerated in the second quarter on the back of strong private consumption and resilient public expenditure.