The value of the baht touched 35.80 baht/US dollar. The lowest value in more than 9 months, once again, before returning to close the market at 35.76 baht/dollar, equal to yesterday's market closing level.
Miss Kanchana Chokpaisansin Research executive Kasikorn Research Center said that the baht is under downward pressure following signals of net selling in the Thai bond market by foreign investors. and the movement of the Yuan It has come under pressure from concerns over weak signs of China's real estate sector and the overall economy. And recently, the People's Bank of China announced a reduction in commercial banks' reserve requirement ratio (RRR) by 0.25% for all financial institutions.
For today's fund flow direction Foreign investors net bought 1,246.10 million baht of Thai stocks, but still had a position on the net outflows side, leaving 3,247 million baht from the Thai bond market.
As for the movement framework of the baht tomorrow (15 Sep. 2023), it is expected to be at 35.60-35.90 baht/dollar, while important factors that need to be followed include fund flow signals. Situation of Asian currencies China's August economic figures (such as house price index industrial production, retail sales, unemployment rate and fixed asset investment in August) and US economic figures (such as the New York Fed Manufacturing Survey Consumer confidence index for September and industrial production figures for August)
Source: Thai News Agency