The Thai baht surged to its strongest level in over two weeks, reaching 33.97 against the US dollar on January 21, 2025, before settling at 34.10 baht per dollar at market close. This marked a notable betterment from the previous day’s closing rate 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 his inauguration.
Foreign investors played a pivotal role in bolstering the baht, with net purchases of Thai bonds and stocks totaling 4,155 million baht and 170.36 million baht, respectively. These inflows provided additional support to the currency, reflecting confidence in thailand’s financial markets. Simultaneously occurring, data from the Bank of Thailand (BoT) revealed that the average indicative forward points for 3-month transactions stood at -20.22 for exporters (selling US dollar futures) and -17.03 for importers (buying US dollars in advance) as of 10:00 a.m. on January 21, 2025.
Looking ahead, the baht is projected to trade within a range of 33.95 to 34.25 baht per dollar. Key factors influencing its movement include signals on US economic policy, international trade developments, foreign capital flows, global gold prices, and the yuan’s performance. Additionally, the December leading economic index of the United States will be closely monitored for further insights.
Key highlights of the Baht’s Performance (January 21, 2025)
| Metric | Value |
|———————————|——————————-|
| Strongest Level | 33.97 baht per dollar |
| Closing Rate | 34.10 baht per dollar |
| Previous Day’s Close | 34.30 baht per dollar |
| Foreign Bond Purchases | 4,155 million baht |
| Foreign Stock Purchases | 170.36 million baht |
| 3-Month Forward Points (Exporters) | -20.22 |
| 3-Month Forward Points (importers) | -17.03 |
The baht’s resilience underscores its sensitivity to global economic dynamics and investor sentiment. As markets await further clarity on US trade policies, the currency’s trajectory remains a focal point for traders and analysts alike. Stay tuned for updates on these critical developments shaping the financial landscape.
