Thailand's currency becomes one of Asia's worst performers

Thailand's currency THB may extend its recent declines to test support at last year’s low amid growing pressure on the central bank to cut interest rates, according to the US website Bloomberg.com.

Hanoi (VNA) – Thailand's currency THB may extend its recent declines to test support at last year’s low amid growing pressure on the central bank to cut interest rates, according to the US website Bloomberg.com.

The currency has already dropped almost 7% since the start of January, making it one of Asia’s worst performers, and putting it less than 1.4% away from October’s low of 37.237 per dollar. Some analysts see that level being tested if the Bank of Thailand trims its benchmark on April 10.

While economists expect BoT policymakers to further delay rate hikes this week, traders were cautious after the two BoT members voted in favour of a rate cut at their previous meeting in February. In the same month, Prime Minister Srettha Thavisin's government called for an emergency rate cut.

TOP picture: Shoppers pass through a street market in Bangkok, Thailand.(Photo:bloomberg.com)

Full story: Vietnam Plus 2024-04-10

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