The CAD to THB exchange rate has recently been influenced by several key factors affecting both currencies. As of now, the CAD is trading at approximately 23.12 THB, which is slightly below its three-month average. Analysts note that the CAD has remained stable, fluctuating within a 3.1% range, from 22.82 to 23.53 THB. This stability is being tested by the recent downturn in oil prices, which have dropped to $63.66 per barrel, approximately 2.9% below the three-month average of $65.56. Given that Canada is a major oil exporter, further declines in oil prices could place additional downward pressure on the CAD.
In September and October 2025, the Bank of Canada (BoC) implemented two consecutive rate cuts, reducing the key policy interest rate to 2.25%. These decisions reflect concerns about a weakening job market and overall economic uncertainty. The depreciation of the CAD has coincided with these developments, making it more vulnerable, especially as U.S. labor market data continues to reveal significant job losses, which could indirectly affect the CAD through shifts in investor sentiment.
Meanwhile, the Thai baht (THB) has been experiencing significant strength, reaching a four-year high. The Thai government and the Bank of Thailand have engaged in efforts to manage the baht's appreciation to safeguard the country's export and tourism sectors. Measures include scrutinizing capital inflows and considering a tax on gold trading, as the latter has contributed to the baht's strength. However, a strong THB has raised concerns regarding export competitiveness, prompting ongoing evaluations of economic impacts by Thai policymakers.
The outlook for the CAD to THB exchange rate will largely hinge on the interplay between oil prices and economic indicators from both Canada and Thailand. As oil prices remain volatile, and with both currencies receiving significant influence from their respective central banks' policies, market participants should stay alert to ongoing developments that could reshape the exchange rate dynamics in the upcoming weeks.
