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The baht fell more than 1% to 34.739 per dollar on Tuesday, its weakest since August 19. The drop followed reports that a panel was set to pick former finance minister Kittiratt Na-Ranong, a vocal critic of the central bank's hawkish policy, to lead the Bank of Thailand.
Doubts about central bank independence and possible looser policy weaken the baht, which raises the cost of imported feed inputs priced in dollars for Thai buyers. The effect on global feed grain prices is limited.
bloomberg.comMatthew BurgessNov 12, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
