The baht touched its weakest level in 10 and a half months, a new time at 36.59 baht/dollar, before returning to close the market at 36.53 baht/dollar, depreciating when compared to yesterday's closing level at 36.36 baht/dollar even though the MPC will raise interest rates
Ms. Kanchana Chokpaisansin Research executive Kasikorn Thai Baht Research Center Indicates that the baht has weakened in line with the direction of other currencies in the region amid the support of the dollar. From the Fed's tight control signals This reflects the possibility that the US policy interest rate may be raised one more time during the rest of the year. The baht continues to move in a depreciating range, even though the Monetary Policy Committee (MPC) has given Thailand's policy interest rate has been raised to 2.50% from 2.25% at today's meeting.
For today's fund flow direction Foreign investors returned to net purchases of Thai stocks of 2,056.14 million baht but had a position on the net outflows side of the Thai bond market of 3,003 million baht.
As for the movement of the baht tomorrow, it is expected to be at 36.30-36.60 baht per dollar. Important factors that need to be followed include the direction of foreign capital. The currency situation in the region and US economic figures such as the number of people applying for weekly unemployment benefits. GDP numbers for 2Q23 (final) and the total number of home sales contracts waiting to close in August. – Thai News Agency
Source: Thai News Agency