# Asian currencies: Thai baht hits two-month low as oil prices surge - Markets - Business Recorder

> Most Asian currencies weakened as elevated oil prices and rising US Treasury yields eroded their rate advantage. Thailand's baht led the losses, falling as much as 0.8% to 33.635 per dollar, its weakest since late July. The US rejected an Iranian peace proposal, keeping an October Fed hike in play.

- Date: 2026-09-28 · published 2026-09-28T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/17732-asian-currencies-thai-baht-hits-two-month-low-as-oil-prices-surge-markets
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker baht raises the local cost of imported feed ingredients and energy, which squeezes Thai feed-mill margins. The dollar strength behind the move also supports US dollar-priced commodity import costs for emerging-market buyers.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-26 | [Thai baht leads Asian currencies lower, pressured by dollar - Markets - Business Recorder](https://feedsoft.ai/events/34379-thai-baht-leads-asian-currencies-lower-pressured-by-dollar-markets-business.md) | +0.8% | +1.3% |
| DXY | 2024-03-27 | [Asian currencies at multi-month lows against US dollar; stocks mixed - Markets - Business Recorder](https://feedsoft.ai/events/31453-asian-currencies-at-multi-month-lows-against-us-dollar-stocks-mixed-markets.md) | +0.2% | +1.4% |
| DXY | 2021-09-28 | [Dollar hits 10-1/2-month high as Treasury yields surge - Markets - Business Recorder](https://feedsoft.ai/events/45256-dollar-hits-10-1-2-month-high-as-treasury-yields-surge-markets-business-recorder.md) | +0.5% | -0.1% |
| DXY | 2023-09-28 | [Indian rupee poised to test record low as oil prices, US yields climb - Markets - Business Recorder](https://feedsoft.ai/events/34393-indian-rupee-poised-to-test-record-low-as-oil-prices-us-yields-climb-markets.md) | +0.5% | +0.8% |
| DXY | 2023-09-27 | [Thai baht, Malaysian ringgit lead Asian FX lower on extended dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/34366-thai-baht-malaysian-ringgit-lead-asian-fx-lower-on-extended-dollar-strength.md) | +1.1% | +1.1% |
| WTI | 2023-01-26 | [Canadian dollar notches two-month high as stocks climb - Markets - Business Recorder](https://feedsoft.ai/events/38036-canadian-dollar-notches-two-month-high-as-stocks-climb-markets-business-recorder.md) | -4.4% | -5.8% |
| WTI | 2023-09-27 | [Thai baht, Malaysian ringgit lead Asian FX lower on extended dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/34366-thai-baht-malaysian-ringgit-lead-asian-fx-lower-on-extended-dollar-strength.md) | -2.0% | -7.4% |
| WTI | 2023-04-04 | [Malaysia, Indonesia currencies gain on OPEC+ target cut - Markets - Business Recorder](https://feedsoft.ai/events/36682-malaysia-indonesia-currencies-gain-on-opec-target-cut-markets-business-recorder.md) | +1.4% | -10.8% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40441679

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.