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THB/MOP (THBMOP) News
Institution: The Thai baht appears particularly vulnerable amid Middle East tensions.
Gelonghui, June 11 | Lloyd Chan of MUFG Bank stated in a report that the Thai baht appears particularly vulnerable as the Middle East conflict persists. Thailand is one of the region’s largest net importers of oil and gas, rendering its external position highly susceptible to energy price shocks. Domestic yields also remain relatively low, while headline inflation rose toward 3% in May, eroding the baht’s real carry appeal. The senior currency strategist noted: “The combination of deteriorating terms of trade and limited carry support leaves [the baht] especially exposed to further downside pressure, particularly in the
The Bank of Thailand ruled out the possibility of holding an unscheduled meeting to adjust interest rates.
The Bank of Thailand stated that the stability of the Thai baht and robust external payment position mean there is no need to convene an emergency interest rate meeting. This comes after Indonesia held an unscheduled policy meeting to raise rates in support of its currency. "Given the stability of the Thai baht and Thailand’s strong external payment position, the Monetary Policy Committee does not need to hold a special meeting like Indonesia did," Chayawadee Chai-Anant, Assistant Governor and spokesperson of the Bank of Thailand, said in a statement Wednesday evening. Chayawadee noted that foreign investors have sold approximately USD 1.3 billion worth of Thai assets since the escalation of the U.S.-Iran conflict, significantly less than the roughly USD 3.9 billion sold in Indonesia.
Thailand's Consumer Prices Continue to Fall Despite Higher Energy Costs
Consumer prices in Thailand continued to fall, even as energy prices rose due to the conflict in the Middle East.
Thailand's Export Rose 9.9% In February, Driven By Electronics
Thailand's exports expanded for the 20th consecutive month in February, led by growth in electronics and electrical appliances, which was bolstered by AI-driven technological advancements and geopolitical supply chain shifts, official data showed on Tuesday.