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Thailand's Monetary Policy Committee secretary said the baht had appreciated 4-5% against the dollar since the start of 2023, which he attributed to economic recovery rather than speculation. Foreign tourist arrival forecasts were raised to 25.5 million for 2023 and 34 million for 2024.
The central bank said it had no special policies in place.
Tourism-driven dollar inflows and a stronger baht lower the local-currency cost of imports for Thai feed and food producers. The statement signals no intervention, so the currency move is likely to persist.
en.moneyandbanking.co.thbank financeJan 25, 2023Not 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.
