# SCB FM points out that the baht is strengthening rapidly, watch for short-term depreciation from Tariffs, expecting the MPC to cut interest rates - Money & Banking Magazine

> Siam Commercial Bank strategists said the baht strengthened quickly to near 33.00 per dollar after the US postponed tariff increases, driven by a weaker dollar. They expect the baht to weaken again in the short term toward 33.50-34.50 per dollar, and they expect the central bank to cut rates in the second quarter.

- Date: 2025-04-22 · published 2025-04-22T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/25394-scb-fm-points-out-that-the-baht-is-strengthening-rapidly-watch-for-short-term
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Currency swings in the baht affect Thai import costs for feed ingredients, but the link to global feed prices is indirect.

## Read by commodity

- DXY: bearish ▼
- USDTHB: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-01-13 | [Krungthai reveals the value of the baht opening this morning. “Appreciated” 33.10 baht per dollar US inflation slows as the market expects - Money & Banking Magazine](https://feedsoft.ai/events/38068-krungthai-reveals-the-value-of-the-baht-opening-this-morning-appreciated-33-10.md) | -0.1% | +0.6% |
| DXY | 2022-12-14 | [Krungthai reveals baht this morning "Appreciated" to 34.58 baht/dollar on news of US inflation being slower than expected - Money & Banking Magazine](https://feedsoft.ai/events/38471-krungthai-reveals-baht-this-morning-appreciated-to-34-58-baht-dollar-on-news-of.md) | +0.2% | -2.0% |
| DXY | 2023-01-23 | [SCB CIO sees the "baht" reaching 33-34 baht/US dollar at the end of the year. Recommends foreign investment to prevent exchange rate risk - Money & Banking Magazine](https://feedsoft.ai/events/38067-scb-cio-sees-the-baht-reaching-33-34-baht-us-dollar-at-the-end-of-the-year.md) | -0.4% | +1.0% |
| DXY | 2023-01-26 | [SCB sees "the baht" moving at 32.55-32.85 baht today - Money & Banking Magazine](https://feedsoft.ai/events/38063-scb-sees-the-baht-moving-at-32-55-32-85-baht-today-money-and-banking-magazine.md) | -0.3% | +1.8% |
| DXY | 2025-09-29 | [Why is the exchange rate in Vietnam rising rapidly despite the depreciation of the US dollar internationally?](https://feedsoft.ai/events/23193-why-is-the-exchange-rate-in-vietnam-rising-rapidly-despite-the-depreciation-of.md) | -0.3% | +0.3% |

## Sources

- en.moneyandbanking.co.th: https://en.moneyandbanking.co.th/2025/168409/

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