BANGKOK, Thailand – The Thai baht closed at 33.12 per US dollar, marking a low of 33.15 earlier in the day–its weakest level in over a week. This decline follows a previous closing rate of 32.76 baht per dollar. Kanchana Chokpaisalsilp, a researcher at Kasikorn Research Center, noted that the baht’s depreciation aligns with a general weakening of regional currencies, a drop in global gold prices, and foreign investment outflows.
On Oct 3, foreign investors sold a net 2.77 billion baht in Thai stocks and 3.6 billion baht in bonds. Meanwhile, the US dollar continues to strengthen as a safe-haven currency amid ongoing uncertainties in the Middle East.
Looking ahead, the baht is expected to trade within the range of 32.90 to 33.30 per US dollar on Friday. Key factors to monitor include foreign capital flows, global gold prices, regional currencies, statements from Federal Reserve officials, and US economic data such as non-farm payroll figures and the unemployment rate for September.
