# Strong Thai baht hitting exporters and tourism, says central bank

> The Bank of Thailand said a rapid appreciation of the baht is hurting exporters and tourism spending. The baht hit a 31-month high of 32.235 per dollar on Monday and has risen 5.8% year-to-date, second only to Malaysia's ringgit in the region.

- Date: 2024-09-30 · published 2024-09-30T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/28593-strong-thai-baht-hitting-exporters-and-tourism-says-central-bank
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger baht erodes the baht earnings of Thai exporters and makes Thai-sourced feed ingredients and tapioca-based products costlier in dollar terms, while a weak dollar broadly supports Asian currency-linked import demand.

## Read by commodity

- DXY: bearish ▼
- USDTHB: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-12-09 | [Central bank blames rapidly weakening dollar for stronger baht](https://feedsoft.ai/events/49907-central-bank-blames-rapidly-weakening-dollar-for-stronger-baht.md) | -0.0% | -0.5% |
| DXY | 2022-07-21 | [Europe's central bank backs larger-than-expected rate hike \| AP News](https://feedsoft.ai/events/40711-europe-s-central-bank-backs-larger-than-expected-rate-hike-ap-news.md) | +0.2% | -0.4% |
| DXY | 2025-12-10 | [Fed Meeting Today: Central Bankers Can't 'Do Two Things At Once,' Powell Said](https://feedsoft.ai/events/21403-fed-meeting-today-central-bankers-can-t-do-two-things-at-once-powell-said.md) | -0.7% | -0.5% |
| DXY | 2020-07-30 | [Fed extends swap lines and warns of slowing US economy - Central Banking](https://feedsoft.ai/events/52027-fed-extends-swap-lines-and-warns-of-slowing-us-economy-central-banking.md) | -0.3% | -0.5% |
| DXY | 2023-03-13 | [South Korean central bank eyeing jump in the won says will stabilize markets if necessary](https://feedsoft.ai/events/37108-south-korean-central-bank-eyeing-jump-in-the-won-says-will-stabilize-markets-if.md) | +0.3% | -1.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/asia/thai-economy-helped-by-exports-manufacturing-august-tourism-slows-2024-09-30/

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