“The baht appreciates After the start of a positive signal in the Russia-Ukraine negotiations,” while internal factors, the MPC unanimously voted 7:0 to maintain the policy rate at 0.50% per annum to further stimulate the economy.
foreign currency trade Bangkok Bank Report on the movement of the foreign exchange market on Wednesday, March 30, 2022 that the baht opened the market this morning (30/3) at 33.55/57 baht / US dollar.
The baht strengthened from Tuesday’s close (29/3) at 33.71/73 baht after Turkish Foreign Minister Mevlut Cavusoglu said that the peace talks between Russia and Ukraine in Istanbul today This is considered the most progress since both sides started negotiations.
Mr Cavusoglu said Turkey is pleased that Russia and Ukraine were able to reach a compromise agreement on some issues. and the war must end as soon as possible.
Mr Cavusoglu also stated that Foreign ministers of Russia and Ukraine will meet at the next opportunity on more complex issues. Before Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky finally meet.
The Russian Defense Ministry said Russia will cut “dramatically” military operations around Kiev, the Ukrainian capital. Russian Deputy Defense Minister Alexander Fomin said that Russia had announced reductions in military operations to increase the trust between Russia and Ukraine. and to facilitate the next peace talks by both sides
In addition, Mr Fomin also revealed that Peace talks between Russia and Ukraine in Istanbul today. Both sides have made great progress in forming a treaty on Ukraine’s neutrality and nuclear weapons-free status. Including a security guarantee for Ukraine.
for domestic factors The Monetary Policy Committee (MPC) voted unanimously 7:0 to maintain the policy rate at 0.5% per annum, estimating that the Thai economy in ’22 and ’23 will continue to expand despite sanctions. Russia will affect the Thai economy through rising energy and commodity prices. and decelerating foreign demand
The average headline inflation rate of ’22 will increase beyond the target range before gradually decreasing and returning to the target range in early ’66 from energy and food prices that are not expected to continue to rise It is estimated that the rise in inflation is mainly due to cost-push inflation, while demand-pull inflation remains low.
Therefore, the policy rate should be maintained to support the economic recovery to be continual. During the day, the baht moved depreciated. within the range of 33.29-33.57 baht/USD and closed at 33.29/31 baht/USD
For the movement of the euro opened the market this morning (30/3) at 1.1103/05 US dollars / euro. It strengthened from Tuesday’s close (29/3) at 1.1040/42 USD/Euro. The euro is strengthening After the positive signal in the Russia-Ukraine conflict During the day, the euro moved in the range between 1.0945-1.1161 US dollar/euro and closed at 1.1134/36 USD/Euro
For the movement of the yen open market this morning (30/3) at 122.36/38 yen / US dollar. It strengthened from Tuesday’s close (29/3) at 123.74/76 yen/USD. Bank of Japan (BOJ) Governor Haruhiko Kuroda said the BOJ’s daily action had not had a severe and direct impact on the movement of the yen.
The statement came after the BOJ offered to buy Japanese government long-term bonds at fixed rates on Monday (March 28), which led to the sharp decline in the yen.
Kuroda told reporters after a meeting with Prime Minister Fumio Kishida that the movement of the yen should be stable. and should reflect fundamental economic factors During the day, the yen moved within the range of 121.32-122.84 Yen/US dollar and closed at 121.87/89 yen / US dollar
Key US economic numbers this week are non-farm payrolls. unemployment rate Private sector employment data, PMI and ISM indexes, manufacturing sector for March, personal income and expenditure. and Gross Domestic Product (GDP) data in Q4/21
As for the hedging rate (Swap point), the first month in the morning in the country is -0.4/0 satang/USD. and the hedging rate in the morning of 1 month abroad is at 0/+2.50 satang/USD
