The baht weakened to a low of 33.04 per US dollar during trading on Monday, before rebounding slightly to close the session marginally stronger against the dollar at 32.94. Beyond the heightened geopolitical uncertainties, the baht is also being pressured by a sharp decline in global gold prices. Ms Roong added that the Bank of Thailand is expected to manage baht volatility and depreciation against the dollar to help ease business operating costs. However, rising global oil prices are likely to increase the cost of imported raw materials. Moreover, the continued decline in gold prices -- from around $4,700 per ounce to the $4,400 support level -- has further pressured the baht against the dollar, he said.

Source: Bangkok Post March 23, 2026 23:25 UTC