PATTAYA, Thailand – The Thai baht weakened to a new 15-month low on Thursday, pressured by a stronger US dollar and renewed concerns over tensions in the Middle East, according to Kasikorn Research Center. The baht fell to 33.848 baht per US dollar during trading, marking its weakest level in 15 months, before closing the domestic market at around 33.80 baht per dollar. This compared with Wednesday’s closing level of 33.81 baht per dollar.
The currency moved lower after briefly recovering earlier in the day, following broader weakness among Asian currencies, including the Japanese yen. The US dollar regained strength as investors increased their focus on geopolitical risks, particularly developments in the Red Sea and the Strait of Hormuz. Market concerns over possible disruptions to global trade and energy supplies have increased demand for safe-haven assets, supporting the dollar while putting pressure on regional currencies.
Foreign investor movements in Thailand showed mixed signals on Thursday. Foreign investors were net buyers of Thai stocks worth 1.891 billion baht, indicating some continued interest in the equity market. However, they were net sellers of Thai bonds worth 5.715 billion baht, reflecting caution in fixed-income markets.
Kasikorn Research Center expects the baht to trade within a range of 33.75 to 33.90 baht per US dollar on Friday. Key factors to monitor include Thailand’s June export figures, developments in the Middle East, foreign fund flows, and movements of other regional currencies. Analysts said continued global uncertainty, particularly from geopolitical tensions and shifts in dollar demand, will remain important factors influencing the direction of the Thai currency.
