Thai Baht Declines Against Dollar

After a brief uptrend, the Thai baht dropped against the dollar in early Asian deals on Thursday. The pair moved from 33.3150 to 33.49 at 10:20 pm ET. If the Thailand currency weakens further, it may target the 33.695 level. The dollar-baht pair was worth 33.44 at yesterday's close.

Yesterday, the Bank of Thailand retained its key interest rate at 1.25 percent per annum. The decision came in line with economists' expectations. The Monetary Policy Committee assessed that the current level of policy interest rate is appropriate and supportive of the economic recovery.

Further, the MPC said the Thai economy is expected to recover gradually, supported by the momentum of the global economy and accommodative monetary and fiscal policies. And the inflationary pressure from the demand side continues to be subdued for the time being.

US Dollar vs THB (FX:USDTHB)
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