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Thai Baht THB
Central Bank: Bank of Thailand
Interest Rate: 1.75%
Public Debt to GDP Ratio, 2017: 44.1%
Trade Balance, 2017: $38.2 bln.
Inflation, 2017: 0.6%
High-yielding interest rates
weak
Political instability
medium
The Thai baht is the official currency of Thailand. Thailand’s economy, which is one of the fastest-growing in Asia, is export-oriented, making the currency susceptible to an influence of outside events. The United States is the biggest export market for Thailand.
The Thai baht was little changed against the US dollar today following yesterday’s interest rate hike from the nation’s central bank. In fact, the baht was little changed versus the greenback for the whole year, being one of the most stable Asian currencies.
The Bank of Thailand followed many other central banks of emerging economies in cutting its borrowing costs. The Thai baht suffered as a result of the monetary policy decision but managed to bounce versus the US dollar.
The Bank of Thailand decided to keep its main interest rate unchanged during today’s policy meeting. The Thai baht attempted to rally after the decision but failed and currently is trading below the opening level.
The Thai baht advanced today on speculations that government spending will improve the nation’s economy, attracting investors to the country. The currency rose to the highest level since November.
The Thai baht fell today after the Thailand’s military seized the power after six months of political turmoil. Investors had mixed view on the news, meaning that the currency’s losses were not as big as they might have been.
The Thai baht climbed today as political tensions in Thailand were easing, making the country attractive for overseas investors yet again. The general risk-positive sentiment on the Forex market also played in favor of the currency.
The Thai baht dropped today as the central bank performed an interest rate cut and the Constitutional Court ruled out the investment bill, which should have improved the economic climate in the country.
The Thai baht rose today together with other risky currencies, but remains in a vulnerable position due to the unresolved political crisis in the country that erodes the appeal of the currency and endangers the nation’s economy.
The Thai baht fell today, but was still heading to weekly gains as last weekend’s elections did not result in escalation of protests and violence, easing concerns about the political turmoil in the country.
The Thai baht gained today as yesterday’s elections in Thailand ended without any significant violence. The currency is still in danger as political turmoil persisted, endangering the country’s economy and spoiling the investing climate.
