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The baht opened at 35.75 per US dollar on November 29, weakening from 35.54 the previous close. Analysts tied the pressure to China's Covid situation and protests, which raised concern about slowing growth in China, Thailand's top trading partner.
Gold purchases after a price drop also weighed on the currency.
A weaker baht raises the local-currency cost of Thai imports, while Chinese demand concerns can weigh on regional trade and commodity demand. The effect on feed-ingredient prices is indirect.
nationthailand.comNov 29, 2022Not 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.
