# Central bank blames rapidly weakening dollar for stronger baht

> On December 9, 2020, the Bank of Thailand blamed a rapidly weakening US dollar for the stronger baht, which reached a two-year high of 30.023 per dollar. Regional currencies including the yuan, won and Singapore dollar also appreciated sharply, while Thai exporters complained about lost competitiveness.

- Date: 2020-12-09 · published 2020-12-09T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/49907-central-bank-blames-rapidly-weakening-dollar-for-stronger-baht
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md)

## Why it matters

A weaker dollar lifts Asian currencies and makes dollar-priced feed imports cheaper in local terms, but it also squeezes exporters' margins in Thailand.

## Read by commodity

- DXY: bearish ▼
- USDTHB: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-09-13 | [US dollar’s weakness among reasons for strengthening baht, says BOT](https://feedsoft.ai/events/28599-us-dollar-s-weakness-among-reasons-for-strengthening-baht-says-bot.md) | -0.9% | +0.5% |
| DXY | 2021-01-06 | [Slumping U.S. Dollar Creates Problem for Central Banks Elsewhere - Bloomberg](https://feedsoft.ai/events/49398-slumping-u-s-dollar-creates-problem-for-central-banks-elsewhere-bloomberg.md) | +0.5% | +1.6% |
| DXY | 2020-01-21 | [Weakening Dollar Good News For Commodities - Passport to Wall Street](https://feedsoft.ai/events/54999-weakening-dollar-good-news-for-commodities-passport-to-wall-street.md) | +0.6% | +1.3% |
| DXY | 2020-03-19 | [Fed opens dollar swap lines for 9 additional foreign central banks](https://feedsoft.ai/events/54305-fed-opens-dollar-swap-lines-for-9-additional-foreign-central-banks.md) | +0.5% | -0.9% |
| DXY | 2020-09-11 | [Lower-for-longer rates from the Fed point to a weaker-for-longer dollar](https://feedsoft.ai/events/51287-lower-for-longer-rates-from-the-fed-point-to-a-weaker-for-longer-dollar.md) | -0.4% | +0.2% |

## Sources

- nationthailand.com: https://www.nationthailand.com/business/30399368

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