![]() ![]() For example, the Hong Kong to US dollar exchange rate is fixed. Most exchange rates will rise and fall (this is called free-floating), and are determined by the foreign exchange market’s supply and demand. This means that if it appreciates, then it takes more of another currency to buy one unit of the foreign currency. ![]() When currency exchange rates fluctuate, it can be said that it either appreciates or depreciates. What Is An Exchange Rate?Ī currency exchange rate is, essentially, how much of one particular currency can be bought for each unit of another particular currency. Below, are some of the most common questions that are asked when exchanging currencies. Before you check the current exchange rates for Thailand, we have included information about foreign currency exchange rates that will make the process easier when reading a currency exchange board. ![]() Each country displayed on the board will have the corresponding national flag located next to the price that is proposed. These rates indicate the current, proposed conversion rate. All currency exchange offices have an exchange board that is usually digitalized and displays the rates in real-time. To check current exchange rates for Thailand, you can click on the different websites that are featured at the end of this article. The economy expanded 2.6% in 2022.Thailand and other countries’ exchange rates change every day. The BOT also maintains its forecasts for economic growth at 3.6% this year and 3.8% next year. Last week, it forecast average headline inflation at 2.5% this year and 2.4% next year. The central bank, however, said it was ready to adjust the pace and timing of policy normalisation if the outlook for growth and inflation shifted. ![]() Mathee said the below-target inflation was seen as temporary and this year's average figure should stay within the target range. 2, when some economists see a rate pause given falling inflation.Īnnual headline inflation in May slumped to its lowest in 21 months of 0.5%, below the BOT's target range of 1% to 3%, while the core inflation rate stood at 1.55%. It has increased the rate by a total of 150 basis points since August. Last week, the Bank of Thailand (BOT) raised its key interest rate by a quarter point to 2.00%, citing elevated core inflation. "But in my view, I want to continue to normalise," said Mathee, who sits on the monetary policy committee. But in deciding rates, there are several committee members so I can't tell whether there will be a hike or not next time," he said. "We would like to build more policy space. Southeast Asia's second-largest economy is in recovery and is expected to return to its potential growth level next year, Mathee said. The policies of all political parties are largely aimed at stimulating the economy, but the effect of monetary policy will take time to be felt, he said. There is no need to wait and see what policies are formulated by the parties that won the May election before deciding whether or not to raise rates further, Mathee Supapongse told reporters. BANGKOK, June 8 (Reuters) - Thailand's central bank wants to continue normalising interest rates and the recent election and efforts to form a new government should have no bearing on monetary policy, a deputy governor said on Thursday.ĭespite recent rate hikes, Thai interest rates are still low due to cuts during the COVID pandemic and the central bank has pledged to gradually return them to normal levels consistent with long-term economic growth prospects. ![]()
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