# Bank of Thailand explains sudden appreciation of Baht

> Bank of Thailand deputy governor Mathee Supapongse said the baht's move on December 30 to below 30 per US dollar was out of line with economic fundamentals. He attributed it to thin holiday trading, FX flow imbalances and broad USD weakness against regional currencies. The central bank said it will monitor the market and act as needed.

- Date: 2019-12-31 · published 2019-12-31T12:00:00.000Z
- Category: macro · region Thailand · magnitude low
- Page: https://feedsoft.ai/events/55840-bank-of-thailand-explains-sudden-appreciation-of-baht
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md)

## Why it matters

A sharply stronger baht erodes Thai export competitiveness and can weigh on Thai demand for imported feed ingredients. The central bank's intervention signals a possible pullback in baht gains, which could modestly support USD/THB.

## Read by commodity

- USDTHB: bullish ▲

## Sources

- nationthailand.com: https://www.nationthailand.com/in-focus/30380025

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