Thread: USD/THB: Thai Baht drops 1% on central bank intervention

Thai Baht (THB) has dropped by more than 1%, pushing USD/THB pair higher to 30.106 reportedly due to central bank intervention.


The currency pair traded at 30.226 in Asia. At that level, THB was down close to 1.8% - the biggest decline since 2007.


“It’s likely to be central bank intervention given that the central bank has mentioned that they’ll be fighting against baht strength,” said Mingze Wu, a foreign-exchange trader at INTL FCStone in Singapore, according to Bloomberg.


The Baht had surged to a six-year high of 29.718 earlier this week. The surge was associated with low liquidity and market imbalance by Thailand's central bank.


The currency gained almost 9% in 2019 on haven demand. Markets treat THB as an anti-risk currency as it is backed by current account surplus.

https://www.fxstreet.com/news/usd-th...n-202001020313

Oh thats loverly innit,

The Pomgolians will be able to afford a new pair of socks and sandles.

And the Seppos another cheese burger with fries.

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Originally Posted by terry57

Oh thats loverly innit,

The Pomgolians will be able to afford a new pair of socks and sandles.

And the Seppos another cheese burger with fries

AUD nearing 21 baht Tel.
A new pair of budgie smugglers for the New Decade?

Originally Posted by Dillinger

AUD nearing 21 baht Tel.
A new pair of budgie smugglers for the New Decade?

Or maybe a new bong?

Oh yeah what should I do with the extra 4,000 baht.

^ click the Smooci ad

^Ha maybe later.

Originally Posted by Hugh Cow

Or maybe a new bong?

Now ya talkin and i was thinkin the same thing.

Smoked the guts out of me old one, she is fuktus.