Currency fell to a 2025 low last week
The baht is expected to remain under depreciation pressure in the near term as geopolitical risks in the Middle East intensify.
The baht is expected to continue weakening against the US dollar this week after falling to a nearly 15-month low, driven by renewed tensions in the Middle East.According to Krungthai Global Markets, the baht is likely to remain under depreciation pressure in the near term as geopolitical risks intensify.
The Thai currency could weaken to between 34.00 and 34.40 baht per US dollar this week, the research house said.
Last week, the baht fell to a 14.5-month low of 33.64 per dollar, in line with a sharp decline in global gold prices to below US$4,000 per ounce. Meanwhile, the US dollar regained strength as global oil prices surged on concerns that the conflict in the Middle East could become more prolonged following reports of continued clashes between the US and Iran since July 11.
