Exchange Rate in Thailand
Thailand - Exchange Rate
Thai baht plummets to new-record low in late-September
On 29 September, the Thai baht slumped to a new record low as it traded at 36.4 THB per USD. The figure was 1.9% weaker than on the same day in the previous month and 12.8% weaker on an annual basis. The baht has lost over 10.0% of its value since the beginning of the year.
The currency has been in freefall since August due to factors such as the devaluation of the Chinese yuan and the 17 August Bangkok bombing. Lately, there are renewed concerns that Thai exports have likely recorded another weak annual variation in the third quarter due to underperforming global demand. Adding to that, anticipation of an interest rate hike in the U.S. later this year is adding pressure on the currency.
After hitting a record-low, the Thai baht has appreciated slightly against the greenback. On 13 October, the currency traded at 35.4 THB per USD. The figure represented a 1.5% appreciation over the same day in the previous month and a 9.5% depreciation on an annual basis.
FocusEconomics Consensus Forecast panelists expect the baht ending this year at 35.0 THB per USD. Next year, the panel sees the currency trading at 35.4 THB per USD.
Thailand - Exchange Rate Data
|Exchange Rate (vs USD)||36.04||35.78||32.64||32.40||30.11|
5 years of economic forecasts for more than 30 economic indicators.
Thailand Exchange Rate Chart
Source: Thomson Reuters.
|Exchange Rate||30.11||0.17 %||Dec 30|
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December 9, 2022
Inflation came in at 5.5% in November, down from October’s 6.0%.
December 1, 2022
At its 30 November meeting, the Monetary Policy Committee (MPC) of the Bank of Thailand (BoT) hiked the policy rate to 1.25% from 1.00%.
November 22, 2022
GDP growth sped up to 4.5% year on year in the third quarter, from 2.5% in the second quarter.
November 14, 2022
Manufacturing output dropped 2.3% month-on-month in seasonally-adjusted terms in September (August: +2.6% mom).
November 14, 2022
Merchandise exports climbed 7.8% annually in September, on the heels of August’s 7.5% increase.