State agencies urged to take action on exchange rateListen to this articleRelevant government agencies, including the Bank of Thailand, are being advised to take quick action to ensure the baht remains at an appropriate level. GOLD FACTORCentral bank governor Vitai Ratanakorn said the baht appreciated past 31 to the dollar on Wednesday, driven mainly by a surge in gold prices. "The baht's strength exceeds levels justified by economic fundamentals and is primarily influenced by a surge in gold prices," he said. Gold trading volume accounts for about 35% of total foreign exchange-related transactions, while foreign capital inflows have added upward pressure on the baht. Mr Vitai said the central bank is monitoring gold trading conducted via digital platforms using baht.

Source: Bangkok Post January 21, 2026 23:24 UTC