Thai baht market conditions: opened at 34.10, depreciated by region

2023-05-18 14:00:11

A money manager from Bank of Ayudhya revealed that the baht opened this morning’s market at 34.10 baht / dollar, depreciating from yesterday’s close at 33.72 baht / dollar.

Recently, the baht weakened to 34.16 baht / dollar after the US dollar appreciated. from strong retail sales. In addition, the baht depreciated in line with the yuan. The depreciation was due to several Chinese economic figures that did not come out very well, especially private investment figures. This caused regional currencies to depreciate in the same direction as the yuan.

“The yuan is the weakest since the end of 2022. China’s economic data is not good. The yuan depreciated. Many currencies in the region also weakened accordingly. It may be another factor that causes today’s baht to weaken further, “the money manager stated.

Today, the political situation in the country still needs to be monitored. Especially the issue of polarizing government establishment, including foreign flows, while domestic factors must monitor the plan to increase the US debt ceiling.

Money managers expect the baht to move today within a range of 34.00 – 34.25 baht/dollar.

THAI BAHT FIX 3M (May 16) was at 1.82079%, while THAI BAHT FIX 6M was at 1.97297%.

The latest SPOT is at 34.16750 baht / dollar.

important factor

The yen was at 136.43 yen/dollar from 136.01 yen/dollar yesterday evening.
The euro was at $1.0868/euro from $1.0877/euro yesterday evening.
Thai baht/dollar exchange rate The BOT’s interbank weighted average was at 33.896 baht/dollar.
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