Global factors, declining dollar push up Thai baht

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The Thai baht has strengthened against the US dollar given below-projected employment in the US agricultural sector and the Federal Reserve’s decision not to accelerate the interest rate increase, according to the Bank of Thailand (BoT).

The Thai currency moved at Bt32.16-32.18 against the dollar yesterday.

BoT spokesperson Rung Mallikamas said the baht movement was normal, at mid-level, compared to other regional currencies.

She said foreign capital continued to flow into the Thai stock and bond markets in light of the stable political situation, adding that only global factors have an impact on the baht.

Foreign capital has been flowing out of Thailand since early this year, she said.

“It’s normal that the baht is volatile but there are no abnormal signs. The strengthened baht will not affect Thailand’s export capability,” said Ms Rung.