# BoT Governor reveals the baht is depreciating The main reason is the strong dollar. Emphasizing not going against market forces - Money & Banking Magazine

> Bank of Thailand Governor Sethaput Suthiwarthanaput said the baht's fall to about 37 per dollar, and its greater volatility than neighbours, is mainly due to dollar strength, a weaker yuan and gold prices. He said the central bank will not go against market forces, and that capital outflows reached $8.8 billion so far this year.

- Date: 2023-10-04 · published 2023-10-04T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/33930-bot-governor-reveals-the-baht-is-depreciating-the-main-reason-is-the-strong
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Persistent baht weakness and capital outflows raise Thai import costs for dollar-priced feed ingredients, while the central bank's hands-off stance means no currency defence is expected.

## Read by commodity

- DXY: bullish ▲
- USDTHB: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-03-27 | [Krungthai reveals the baht is depreciating, opening at 34.21 baht/dollar, following US inflation figures - Money & Banking Magazine](https://feedsoft.ai/events/37134-krungthai-reveals-the-baht-is-depreciating-opening-at-34-21-baht-dollar.md) | -0.9% | -1.0% |
| DXY | 2026-09-17 | [Investors are increasing their bets on the Thai baht weakening to its highest level in two months, affected by high oil prices and a stronger dollar. - Money & Banking Magazine](https://feedsoft.ai/events/17735-investors-are-increasing-their-bets-on-the-thai-baht-weakening-to-its-highest.md) | +1.0% | +2.2% |
| DXY | 2024-12-30 | [Krungsri expects the baht to trade in the range of 67-33.75 baht/dollar at the end of 34.50 - Money & Banking Magazine](https://feedsoft.ai/events/27247-krungsri-expects-the-baht-to-trade-in-the-range-of-67-33-75-baht-dollar-at-the.md) | +0.1% | -0.1% |
| DXY | 2016-12-23 | [Market braces for stronger dollar - The Korea Times](https://feedsoft.ai/events/73675-market-braces-for-stronger-dollar-the-korea-times.md) | -0.4% | -1.6% |
| DXY | 2022-12-16 | [Thai baht depreciates against US dollar \| Thaiger](https://feedsoft.ai/events/38473-thai-baht-depreciates-against-us-dollar-thaiger.md) | -0.3% | -2.7% |

## Sources

- en.moneyandbanking.co.th: https://en.moneyandbanking.co.th/2023/65269/

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