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Thailand Keeps Diesel Price Cap At THB30/Litre

THB

Spot USD/THB trades -0.035 at THB33.480 after lodging a fresh multi-week high on Tuesday. Bears look for further losses past Mar 17 low of THB33.208, while bulls would be pleased by a rally above Jan 10 high of THB33.747 towards Dec 22 high of THB33.835.

  • The government will freeze retail diesel prices at THB30/litre through the end of April but will lower the state subsidy thereafter owing to its high fiscal burden. Other targeted support measures for low-income households may be introduced in the May-July period to ease pressure from rising fuel prices.
  • The BoT vouched for domestic banking sector after S&P Global Ratings downgraded a handful of top lenders. In a statement released Tuesday, the central bank noted that the banking system remains resilient and well capitalised.
  • The local docket is empty today, with customs trade data coming up Thursday.
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