baht

The baht’s strength is a result of a weak US dollar and Thailand’s current account surplus, and the central bank will step in to reduce its currency’s volatility, Thai Governor Vitai Ratanakorn told reporters in the northern Chiang Mai province on Saturday (Nov 22).

Thai central bank sees room for rate cut, wants a weaker baht

THAILAND’S newly-appointed central bank governor says the baht should be weaker to reflect economic fundamentals, and there is room to ease monetary policy further.

Behind the Malaysian currency’s outperformance lies a more muted regional showing, with its South-east Asian counterparts breaching record lows and its East Asian peers grasping onto slim year-to-date gains against the US dollar.

Ringgit’s winning streak masks Asia’s currency weakness

Philippine peso and dong breach record lows; rupiah, won and yen continue slide

Finance Minister Ekniti Nitithanprapas hopes everything will be done by December.

Thailand hunting down ‘gray money’ behind baht’s odd strength

It will synchronise data across government and financial institutions to detect unusual transfers

Finance Minister Ekniti Nitithanprapas also told reporters that the government would put illicit fund movements under more scrutiny by December.

Thailand did not manipulate currency, finance minister says

He says there are tools to manage the currency without resorting to intervention

In the case of Malaysia, its monetary authority will report the net purchases and sales of foreign currencies on an aggregated basis over 12 months each March and September.

US Treasury gets currency intervention disclosure commitments from Thailand, Malaysia

Both countries committed to report interventions on at least a semi-annual basis

The stronger currency has also made Thailand a more expensive destination for visitors, weighing on tourism – together with exports, these sectors account for about 70% of the economy.

Weak Thai tourism set to crimp baht’s year-end rally: analysts

Shipments are under further pressure from US tariffs

The rally has already pushed the baht to a four-year high against the US dollar in September – and at first glance, the surge is puzzling.

Why the Thai baht is defying economic gravity

The currency has rallied some 5% against the US dollar since Trump’s so-called Liberation Day tariff announcement