“Thai Baht strengthens as export numbers beat expectations”

A money manager from Bank of Ayudhya revealed that the baht closed this evening at 34.21 baht / dollar, strengthening from the morning market opening at 34.34 baht / dollar.

During the day, the baht appreciated in the range of 34.17-34.37 baht / dollar. Today, the baht moved in an appreciation direction after the Ministry of Commerce. Reported export numbers for the month of March. which came out much better than what the market expected In addition, the trade surplus in the past 12 months has turned around, which is a factor supporting the appreciation of the baht.

“export numbers” came out better than expected Because the market expects to be -14%, but the actual figure is only -4% and still has a trade surplus, which encourages the baht to appreciate. While regional currencies move mixed. That is, there are both depreciation and appreciation, “the money manager stated.

Money managers expect that the baht will continue to strengthen tomorrow. Look at the movement within the range of 34.10 – 34.35 baht / dollar.

• important factor

• The yen was at 133.41 yen/dollar from the morning 133.51 yen/dollar level.
• The euro was at $1.1042 from an session of $1.0974.
• The SET index closed today at 1,543.95 points, an increase of 3.75 points (+0.24%), trading value at 42,480 million baht.
• Group Trading Volume Summary Foreigners net buy 1,437.22 million baht (SET+MAI)
• Ministry of Commerce March 2023 exports were valued at $27,654 million, down 4.2%, better than market expectations.

That it will decrease by 2 digits, while imports were worth $ 24,935 million, down 7.1%, resulting in a trade surplus of 2,718 million.

The dollar, returning to the trade surplus for the first time in 12 months, continues to drive export growth this year to meet its target of 1-2%.

• Finance Minister expects Thai exports will begin to recover from the middle of this year onwards Although the global economy is still

during the slowdown because people believe that people will begin to adjust their spending behavior to suit their purchasing power which will contribute to increasing purchasing power in the world market

to increase ready to believe The tourism sector also contributes greatly to the Thai economy this year.

• US Treasury Secretary issued a warning to Congress that if the government’s debt ceiling is not approved and lead to defaults on debt payments

Will result in the US economy facing disaster. And will increase interest rates in the coming years.

• Analysts expect the Indian rupee to tends to depreciate against the US dollar due to anxiety

about the crisis in the US banking sector As a result, investors avoid investing in risky assets. and turned to hold the dollar, which is a currency

safe money

• Germany releases consumer confidence index Rising to -25.7 level during the entry into May. from -29.3 in the month

April, the seventh consecutive month of increase due to falling energy prices and wage increases Help alleviate initial concerns about

with the loss of household purchasing power