Thai baht market conditions: opened at 35.23, likely to depreciate after Thailand reverses current account deficit | RYT9

A money manager from the Bank of Ayudhya revealed that the baht opened the market this morning at 35.23 baht / dollar, strengthening from the end of yesterday evening at 35.35 baht / dollar.

This morning, the baht appreciated. But the trend is likely to weaken. After Thailand reverted to a current account deficit in January at $2 billion The market expected a surplus of $1 billion. This is a factor that puts pressure on the baht to weaken.

However, China’s economic numbers are quite good. It is expected that the regional currency will not depreciate too much.

Tonight, the market looks forward to the final manufacturing Purchasing Managers Index (PMI) report for February. from the United States, which in the past In January, the numbers came out very well. Therefore, the market is watching that the index will continue to be good this month. or slow down

money manager The baht is expected to move today within a range of 35.10 – 35.35 baht / dollar.

THAI BAHT FIX 3M (February 28) was at 1.40804%, while THAI BAHT FIX 6M was at 1.64339%.

The latest SPOT is 35.04750 baht / dollar.

  • an important factor

  • The yen was at 136.28 yen/dollar from 136.73 yen/dollar last night.
  • The euro was at $1.0578/euro from $1.0611 last night.
  • Thai baht / dollar exchange rate The weighted average of the interbank BOT was 35.136.


  • “Foreigners” are selling Thai stocks non-stop, the latest yesterday dropped another 3.39 billion, resulting in the whole of February reaching 4.35.

Billions of mistakes

Results of implementation of hopes are low, expected at 41%, the heaviest in the region. Leaving most of the petro-energy group Keep an eye on the sales force starting to slow down. after the baht remained stable at 35


  • The Governor of the Bank of Thailand (BOT) spoke about the Thai economy in 2023 that the Thai economy continues to recover at a steady pace.

continued despite the global economic slowdown. It is expected that in 2023, the Thai economy can continue to grow at 3-4%, driven by the tourism sector.

Tourism is expected to expand by 25.5 million people, while private consumption will grow by 3-4%% Merchandise exports are slowing in line with the global economy.

The BOT maintains this year’s export forecast at 1%, however, due to incoming factors, it may lead to negative export growth for the whole year.

  • The US dollar strengthened against major currencies in trading on the New York Stock Exchange on Tuesday (February 28).

Wed) is driven by the expectation that the Federal Reserve (Fed) will raise interest rates for a longer period of time to curb inflation.

  • New York gold futures closed higher on Tuesday (February 28), driven by investors buying gold as

Inflation hedge assets After reports that inflation numbers in European countries have risen.

  • According to India’s National Statistics Office (NSO), India’s GDP growth in Q3/2022 (October-December) was 4.4%.

This was below analyst expectations of 4.6% and slowing from 13.5% and 6.5% in Q1 and 2, as

Reserve Bank of India is aggressively raising interest rates to curb inflation.

  • Russian President Vladimir Putin has signed a law suspending Russia’s formal cooperation in the agreement.

Nuclear Arms Control Treaty “FRESH START” with the United States on Tuesday (February 28).

  • Tonight, the US will release key economic data, including the final Manufacturing Purchasing Managers Index (PMI) for July.

Wednesday, February manufacturing index from the US Institute of Supply Management (ISM), weekly jobless claims, unemployment index.

Purchasing Management (PMI) service sector in February etc.


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