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Baht Loses Ground, Thailand Pledges To Keep Fiscal Discipline

THB

Spot USD/THB re-opened on a firmer footing and last sits +100 pips at THB33.923, a multi-month high. The next layer of resistance has been defined at THB33.990, which capped gains on Oct 6 & Dec 3. Conversely, bears would be pleased by a retreat past the 100-DMA/Mar 31 low at THB33.245/33.195.

  • FinMin Arkhom said that the government intends to keep financial and fiscal discipline after undertaking massive borrowing during the pandemic of Covid-19. He noted that the Finance Ministry is not planning more borrowing now but is considering the need for additional measures to ease costs of living.
  • The Federation of Thai Industries (FTI) has called on the government to extend the diesel excise tax reduction for three months amid soaring energy prices.
  • PM Prayuth chairs a meeting of Thailand's Covid-19 task force to discuss further loosening of entry rules for international visitors.
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