
Here is a summary of how some of the most important currencies have performed against the Thai baht (THB) during the past week.
| Currency | Buy March 13 | Buy March 20 | Change (%) |
|---|---|---|---|
| USD | 33,6285 | 33,4516 | -0,53% |
| GBP | 43,3780 | 43,2808 | -0,22% |
| EUR | 36,4547 | 36,3509 | -0,28% |
| SEK | 3,3346 | 3,3056 | -0,87% |
Analysis of currency developments
Over the past week, all analyzed currencies have weakened against the Thai baht. The Swedish krona (SEK) has had the biggest decline with -0,87%, followed by the US dollar (USD) which fell by -0,53%. Also the euro (EUR) and the British pound (GBP) recorded smaller declines of -0,28% and -0,22% respectively.
- USD/THB: The dollar has lost -0,53%, which can be linked to continued uncertainty around US trade relations and expectations of a more cautious interest rate policy from the Federal Reserve.
- GBP/THB: The pound fell by -0,22% following mixed signals from the British economy and speculation about future monetary policy.
- EUR/THB: The euro has lost -0,28%, partly due to concerns about economic growth in the eurozone and the ECB's signals to maintain a cautious interest rate policy.
- SEK/THB: The Swedish krona recorded the largest decline at -0,87%. Although the krona had previously strengthened on increased confidence and defense exports, this week's decline can be partly explained by a technical correction as well as a stronger baht.
What course do we use?
We use Bank of Thailand's official buying rate for digital transfer, which is the rate actually used in transactions within Thai banks.
Source
Exchange rates taken from Bank of Thailand.
Disclaimer
The exchange rates in this report are taken from credible sources and are intended for informational purposes. Thailand Info is not responsible for any decisions made based on the information in this article. Rates may vary and it is recommended to double check with current market data or your bank before making any transactions.
Text: The editorial staff
Image license: PublicDomainPictures, Pixabay, original image
