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Thai Baht Rally May Fade on Dovish Central Bank, Analysts Say

Bloomberg Markets Monday 17 August 2026, 00:04 UTC By Benjamin Liu 1 min read
Key Points

Thai Baht Rally May Fade on Dovish Central Bank, Analysts Say A nascent rally in the Thai baht may be short-lived as the central bank is likely to maintain a dovish policy stance to support an economy hit by elevated oil prices, according to analysts. The baht has strengthened 0.9% so far this month, ranking as the second-best performer among Southeast Asian peers. From here, it may dip to 33.50 per dollar through the end of the year, according to BNP Paribas.

Thai Baht Rally May Fade on Dovish Central Bank, Analysts Say A nascent rally in the Thai baht may be short-lived as the central bank is likely to maintain a dovish policy stance to support an economy hit by elevated oil prices, according to analysts. The baht has strengthened 0.9% so far this month, ranking as the second-best performer among Southeast Asian peers. From here, it may dip to 33.50 per dollar through the end of the year, according to BNP Paribas. MUFG Bank Ltd. expects the currency to weaken about 4% to 34.4 in the fourth quarter as higher oil prices weigh on Thailand’s trade balance.
Thai (ORG) Dovish Central Bank (ORG) Southeast Asian (ORG) BNP Paribas (ORG) MUFG Bank Ltd. (ORG) Thailand (LOCATION)
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