Today, the baht opens the market at a price of 35.50 baht, and importers are advised to buy foreign currencies. To prevent risks

Capital Markets and International Transaction Business Department TMB Thanchart (TTB) revealed that the value of the baht this morning (November 7, 2023) The market opened at 35.50 baht/$ this morning, down compared to yesterday’s closing price of 35.20 baht/$.

The US dollar strengthened slightly against major currencies in trading on the New York Forex Exchange on Monday (November 6), as investors awaited comments from Federal Reserve Chairman Jerome Powell this week to indicate the direction of US interest rates. The market is watching Mr. Powell’s statement at the International Monetary Fund (IMF) meeting on November 9 on the topic “Monetary Policy Challenges in the Global Economy” or “Monetary Policy Challenges in the Global Economy.” The group’s latest FedWatch tool indicates that investors give a 90.2% weight to the Fed keeping interest rates at 5.25-5.50% at its meeting on December 12-13.

As for yesterday, foreign investors bought bonds with a net value of 7.484 million baht, and the Thai stock market sold a net amount of 860 million baht. Given that the value of the baht today is moving in the range of 35.40 – 35.70 baht / dollar, it is recommended that importers buy foreign currencies to cover the risks. Exporters recommended selling foreign currencies above the level of 35.70 baht/dollar.

Today’s currency price range is USD/THB 35.40- 35.70, EUR/THB 37.90- 38.30, JPY/THB 0.2350- 0.2390, GBP/THB 43.60- 44.00 and AUD/THB 22.80- 23.20.

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