Summary of the movement of the baht
The baht depreciated Touched the weakest level in 2 months, with the baht briefly appreciating at the beginning of the week before gradually depreciating over the rest of the week in line with Asian currencies. the dollar garden that came back to appreciate
with positive factors from US economic data That came out better than expected, for example, the PMI included the manufacturing sector and the preliminary service sector for February. The increase reached the highest level in 8 months and the weekly drop in the number of people claiming unemployment benefits. This supports the trend of continuing interest rate hikes in many areas. US Federal Reserve meeting ahead
In addition, the depreciation of the baht corresponded to foreign investors’ net selling positions in Thai stocks and bonds. and the depreciation of the yuan amid signs of US-China tensions.
On Friday, February 24, 2023, the baht closed the market at 34.85 baht per US dollar. (After touching the lowest level in 2 months at 34.91 baht per US dollar) compared to 34.60 baht per US dollar. On the previous Friday (17 Feb.)
As for the investment portfolio status of foreign investors between February 20-24, foreign investors sold net Thai shares of 19,531 million baht and had a net outflow status from the Thai bond market continuously for another 7,069 million baht ( net sales of 3,246 million baht and expired bonds of 3,823 million baht)
