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Baht Drops to One-Year Low on Expectations of Rate Gap With US - BLOOMBERG

JUNE 23, 2026

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The baht falls to a one-year low on expectations of a wider interest rate gap between the US and Thailand as domestic demand comes under pressure from multiple headwinds.

The Thai baht weakened as much as 0.5% to 33.09 per dollar, the lowest since May 2025. While US overnight indexed swaps are pricing in a full quarter-point Federal Reserve rate hike by October, baht swaps imply only an over 40% probability of a 25-basis point increase over the next six months.

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