Baht weakening against US dollar - no complaint from me

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#1 Baht weakening against US dollar - no complaint from me

Postby Gaybutton » Sat Jun 30, 2018 9:48 am

My preferred URL for checking exchange rates has changed. Now the URL is:

https://www.scb.co.th/en/personal-banki ... rates.html
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Baht drops faster than peers against dollar

While the currency's decline was high for a two-month period, its first-half fall was par for the region

30 Jun 2018

The baht depreciated against the US dollar at a faster pace than its regional peers in Asia over the past two months, weighed down by external uncertainties, and its downward trend is expected to continue, says a senior central bank official.

Offshore fund outflows resulted from the more hawkish stance than expected of the US Federal Reserve, dividend repatriation of multinational companies and the Sino-US trade spat contributing to the baht's weakness, said Don Nakornthab, the Bank of Thailand's senior director of the economic and policy department.

The baht and the South Korean won were the best-performing currencies in Asia last year, but they fell 3% versus the greenback from the end of May to June 22.

The baht's volatility -- a 6.2% drop between between the beginning of this year and June 22 -- was in line with the region's showing.

The baht on Friday weakened to 33.19 to the dollar from 33.12 on Thursday. Year-to-date, the baht dropped 1.8%, outperforming the won, which lost 4.5%, the Indonesian rupiah (down 5.7%), the Philippine peso (down 6.5%) and the Indian rupee (down 7.2%).

Full story: https://www.bangkokpost.com/business/fi ... nst-dollar

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