# BOT puts baht's rise down to confidence, surging regional currencies

> The Bank of Thailand said the baht's rise of about 5% was in line with a broad rally in Asian currencies. It attributed the move to investor confidence that the Federal Reserve may ease its rate hikes after cooler US inflation data, and to signs that China may relax its zero-Covid policy. Foreigners bought 107 billion baht of Thai assets between November 1 and 10.

- Date: 2022-11-12 · published 2022-11-12T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/38969-bot-puts-baht-s-rise-down-to-confidence-surging-regional-currencies
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md)

## Why it matters

Foreign inflows into Thai assets strengthen the baht, which lowers the local cost of dollar-priced feed imports. The effect on global feed markets is small.

## Read by commodity

- USDTHB: bearish ▼

## Sources

- nationthailand.com: https://www.nationthailand.com/thailand/economy/40022000

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