The Baht Appreciated Against the U.S. Dollar as Risk Appetite Increases

The treasurer of the Bank of Ayudhya announced that the baht opened at 32.99 baht per dollar today, appreciating from 33.08 baht per dollar.

This morning, the baht appreciated against the U.S. dollar, as did several other currencies in the region. That came after the United Arab Emirates (UAE) supported OPEC in further increasing oil production and relieved the market from rising global inflation.

The baht is expected to move in the range of 33.0 – 33.15 baht per dollar today. Important will be today the US inflation (CPI) figures, including the results of the European Central Bank (ECB) meeting.

Meanwhile, the China Foreign Exchange Trading System (CFETS) reported that the benchmark yuan rose 0.0073 yuan against the U.S. dollar to 6.3105.

Xinhua news agency reported that the Chinese foreign currency may rise or fall by no more than 2% of the daily mean trading rate.

The RMB against the U.S. dollar is based on the weighted average price before the daily opening of the interbank market.

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