# Baht plummets against dollar as US Fed preps rate rise

> The baht opened at 34.46 per dollar on May 3, 2022, down from 34.22 at the prior Friday close. Traders expected the Federal Reserve to signal a rate increase at its meeting the next day, and the Ukraine conflict and China's COVID situation were also weighing on regional currencies.

- Date: 2022-05-03 · published 2022-05-03T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/41683-baht-plummets-against-dollar-as-us-fed-preps-rate-rise
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md)

## Why it matters

Expected Fed tightening strengthens the dollar against Asian currencies, which raises the local cost of dollar-priced feed imports in Thailand.

## Read by commodity

- USDTHB: bullish ▲

## Sources

- nationthailand.com: https://www.nationthailand.com/business/40015170

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