# Weakening dollar, rising gold price behind’s baht’s appreciation: BOT chief

> Bank of Thailand Governor Sethaput Suthiwartnarueput said the baht's rapid appreciation reflects a weaker US dollar after the Federal Reserve signalled rate cuts, plus rising gold prices. He said the pace of gains was close to earlier 2024 levels and in line with the ringgit and rupiah. The central bank said it is closely monitoring the situation.

- Date: 2024-08-28 · published 2024-08-28T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/29094-weakening-dollar-rising-gold-price-behind-s-baht-s-appreciation-bot-chief
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar tends to support commodity prices priced in USD, including feed grains and oilseeds, and it lowers import costs for Asian buyers. The effect is modest and tied to the broader Fed-driven dollar move.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-07-30 | [Gold rises on weaker U.S. dollar, soft inflation data](https://feedsoft.ai/events/18260-gold-rises-on-weaker-u-s-dollar-soft-inflation-data.md) | -1.2% | -1.9% |
| DXY | 2019-01-11 | [Gold shines on weak dollar, Fed chief's dovish tone on rate hike](https://feedsoft.ai/events/61008-gold-shines-on-weak-dollar-fed-chief-s-dovish-tone-on-rate-hike.md) | +0.4% | +0.9% |
| DXY | 2024-09-13 | [US dollar’s weakness among reasons for strengthening baht, says BOT](https://feedsoft.ai/events/28599-us-dollar-s-weakness-among-reasons-for-strengthening-baht-says-bot.md) | -0.9% | +0.5% |
| DXY | 2017-07-27 | [The U.S. dollar drop could send gold prices soaring](https://feedsoft.ai/events/69899-the-u-s-dollar-drop-could-send-gold-prices-soaring.md) | -0.6% | -0.5% |
| 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% |

## Sources

- nationthailand.com: https://www.nationthailand.com/business/economy/40040983

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