This is the current USD-THB mid-market exchange rate. The Total Cost of buying foreign currency in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market USD-THB exchange rate.
Whenever you are researching a particular exchange rate you are actually interested in two currencies as the value of a currency must always be quoted relative to a second currency.
So it follows that if you are determining the best time to transact, in this case the USD vs THB, you should pay attention to both United States Dollar and Thai Baht news and forecasts.
In the third week of April the Dollar Index was rallying strongly towards the mid-97s, slightly below major resistance at 97.70, a break of which would be massively positive for the greenback. The index was up 1.7 percent year-to-date.
The dollar’s strength comes in spite of a dovish surprise in March from the Federal Reserve, which ditched two interest rate hikes from its 2019 projections. Fortunately for dollar holders, the rest of the world has problems and other important central banks also turned dovish, removing much of the incentive for selling USD.
Bloomberg research warned in April of potential for a large upcoming move in the US dollar, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan Global FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in mid-April at a 5-year low.
Recent years have been extremely kind to the baht, although not so kind to Thailand’s exporters. At various points in 2019, against the Australian dollar, New Zealand dollar, Canadian dollar and British pound, the baht has traded at its highest level in a decade or longer.
The baht’s year-to-date gain of 1.7 percent against the US dollar (to March-28) puts the baht among the year’s best performing currencies.
In March, per a Reuters currency positioning poll, FX traders were increasing their bets on Thai baht appreciation.
The chairman of the Federation of Thai Capital Market Organisations predicted earlier this year that the baht would continue to appreciate over the medium to long term as capital flows return to Thailand in the face of a more gradual rise in US interest rates and as the US economy slows down.
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