# The MPC has been following the "baht" since the beginning of 66, compared with the dollar's appreciation of 5%, revealing that it is not speculation - Money & Banking Magazine

> 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.

- Date: 2023-01-25 · published 2023-01-25T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/38064-the-mpc-has-been-following-the-baht-since-the-beginning-of-66-compared-with-the
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md)

## Why it matters

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.

## Read by commodity

- USDTHB: bearish ▼

## Sources

- en.moneyandbanking.co.th: https://en.moneyandbanking.co.th/2023/21068/

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