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Friday, March 29, 2024

Baht volatile in line with regional peers

Uncertainty about US interest rates leading to big moves in many foreign currencies

(Bangkok Post File Photo)

The baht is likely to remain highly volatile due to external factors but its weakness is in line with moves in regional currencies, the Bank of Thailand said on Wednesday.

The baht and regional currencies have moved both directions in accordance with global financial market conditions due to uncertainty over the US monetary policy and the recovery of China’s economy since its reopening, the central bank said.

US Federal Reserve chairman Jerome Powell struck an unexpectedly hawkish tone on inflation and interest rates on Tuesday, which has strengthened the dollar and caused other currencies…

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