The Thai baht surged to its strongest level in over two weeks,โฃ reaching 33.97 against the US dollar on January 21, 2025, before settling at 34.10 baht per โdollar at market close. This marked a notable betterment โfrom the previousโ dayโs closing โฃrate of 34.30 baht per dollar. The Kasikorn Research Center attributed this strengthening to the broader trend of Asian currencies and the yuan, coupled with sustained selling pressure on the dollar.this momentum followed the absence of an immediate tariff hike proclamation by US President Donald Trump after โฃhis inauguration.
Foreign investors played aโ pivotal role โขin bolstering the baht, with net โpurchasesโค ofโข Thai bonds and stocks totaling 4,155 million bahtโ and 170.36 million baht, respectively. These inflows provided additional support to the currency,โค reflectingโ confidence inโค thailandโs financial markets. Simultaneously occurring, data from the Bank of โThailand (BoT) revealed that the average โขindicative forward points for โข3-month transactionsโ stood at -20.22 for exporters (selling US dollar futures) and -17.03โข for importers (buying US dollars โin advance) as of 10:00 a.m. on January 21, 2025.
Looking โฃahead,โข the baht is projected to trade withinโค a range ofโฃ 33.95 to โค34.25โ bahtโ per โคdollar.โ Key factors influencing its movement include signals on โฃUS economic policy, international tradeโ developments, foreignโ capital flows,โฃ global gold prices, and the yuanโs performance. Additionally, the December leading economic index of the United States will be closely monitored for further insights.
Key highlights of the Bahtโs Performance (January 21, 2025)
| Metric โฃ โข โฃ | Value โโ โ |
|———————————|——————————-|
| Strongestโข Level โฃ โ | 33.97 baht per dollar โข โฃ โข |
| Closing Rate โ โข โฃ โค | 34.10 baht perโข dollarโข โ |
| Previous Dayโs Close โ | 34.30 baht per dollar |
| Foreign Bond โPurchases โข | 4,155 million baht โค โค |
| Foreign Stock Purchases โ โฃ | 170.36โ million baht |
| 3-Month Forward โฃPoints (Exporters) | -20.22 โ |
| 3-Month Forward Points โฃ(importers) | -17.03 โฃ โ โ โ โ |
The โbahtโs resilience underscoresโ its sensitivity โto global economic dynamics and investor sentiment. Asโค markets await โfurther clarity on US trade policies, the currencyโs trajectory โคremains a focalโฃ point for tradersโ and analysts alike. Stay tuned for โคupdates on theseโ critical developments shaping theโ financial landscape.