# Baht hits 13-month peak as Bank of Thailand holds rates | Thaiger

> The baht reached a 13-month high against the dollar on August 21 after the Bank of Thailand held its policy rate at 2.5%. It closed at 34.21 on August 20 and traded near 34.06 early on August 21, tracking a drop in the dollar index to its lowest since December 2023. Kasikorn projected a 34.00 to 34.20 trading range in the short term.

- Date: 2024-08-22 · published 2024-08-22T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/29099-baht-hits-13-month-peak-as-bank-of-thailand-holds-rates-thaiger
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A softer dollar index supports USD-priced commodities and lowers local feed import costs in Thailand. The move is mainly a currency story and has limited direct price impact on grain or meal.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-08-26 | [Thai baht hits 13-month high against dollar on economic hopes - Nikkei Asia](https://feedsoft.ai/events/29095-thai-baht-hits-13-month-high-against-dollar-on-economic-hopes-nikkei-asia.md) | +0.7% | -0.0% |
| DXY | 2023-08-01 | [Gold scales 1-month peak as dollar, yields drop on rate-hike pause hopes](https://feedsoft.ai/events/34959-gold-scales-1-month-peak-as-dollar-yields-drop-on-rate-hike-pause-hopes.md) | +1.1% | +2.1% |
| DXY | 2019-12-11 | [Dollar slips to 4-month low as Fed holds rates, nixes hike hopes](https://feedsoft.ai/events/55754-dollar-slips-to-4-month-low-as-fed-holds-rates-nixes-hike-hopes.md) | -0.6% | -1.0% |
| DXY | 2023-12-14 | [Pound hits $1.27 as Bank of England pushes back against rate cut predictions – business live \| Business \| The Guardian](https://feedsoft.ai/events/32949-pound-hits-1-27-as-bank-of-england-pushes-back-against-rate-cut-predictions.md) | -1.3% | -1.3% |
| DXY | 2025-02-06 | [Yen hits 8-week high; sterling drops after Bank of England rate cut](https://feedsoft.ai/events/26320-yen-hits-8-week-high-sterling-drops-after-bank-of-england-rate-cut.md) | +0.3% | -1.5% |

## Sources

- thethaiger.com: https://thethaiger.com/news/business/baht-hits-13-month-peak-as-bank-of-thailand-holds-rates

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