# SCB CIO sees the "baht" reaching 33-34 baht/US dollar at the end of the year. Recommends foreign investment to prevent exchange rate risk - Money & Banking Magazine

> SCB CIO revised its end-2023 baht forecast to 33-34 per dollar from 34-35, citing expected slower Fed rate hikes and a weaker dollar. It expects the Fed to raise rates by 0.25% at each of its February, March and May meetings, then hold at 5.25%. It recommended foreign investors hedge currency risk.

- Date: 2023-01-23 · published 2023-01-23T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/38067-scb-cio-sees-the-baht-reaching-33-34-baht-us-dollar-at-the-end-of-the-year
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A forecast of a firmer baht over the year eases the dollar cost of imported feed ingredients for Thai buyers. The forecast is a currency outlook rather than a supply or demand event for feed commodities.

## Read by commodity

- DXY: bearish ▼
- USDTHB: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-12-14 | [Krungthai reveals baht this morning "Appreciated" to 34.58 baht/dollar on news of US inflation being slower than expected - Money & Banking Magazine](https://feedsoft.ai/events/38471-krungthai-reveals-baht-this-morning-appreciated-to-34-58-baht-dollar-on-news-of.md) | +0.2% | -2.0% |
| DXY | 2017-06-29 | [Pound-Dollar exchange rate: Sterling hits one-month high after Mark Carney hints at UK interest rate rise \| The Independent \| The Independent](https://feedsoft.ai/events/70749-pound-dollar-exchange-rate-sterling-hits-one-month-high-after-mark-carney-hints.md) | +0.3% | -1.7% |
| DXY | 2023-01-13 | [Krungthai reveals the value of the baht opening this morning. “Appreciated” 33.10 baht per dollar US inflation slows as the market expects - Money & Banking Magazine](https://feedsoft.ai/events/38068-krungthai-reveals-the-value-of-the-baht-opening-this-morning-appreciated-33-10.md) | -0.1% | +0.6% |
| DXY | 2023-01-26 | [SCB sees "the baht" moving at 32.55-32.85 baht today - Money & Banking Magazine](https://feedsoft.ai/events/38063-scb-sees-the-baht-moving-at-32-55-32-85-baht-today-money-and-banking-magazine.md) | -0.3% | +1.8% |
| DXY | 2020-02-12 | [2020-2021 Exchange Rate Forecast: Pound Sterling And Dollar To Lose Ground This Year Say Commerzbank](https://feedsoft.ai/events/54834-2020-2021-exchange-rate-forecast-pound-sterling-and-dollar-to-lose-ground-this.md) | +0.4% | +1.6% |

## Sources

- en.moneyandbanking.co.th: https://en.moneyandbanking.co.th/2023/20547/

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