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Thailand’s currency weakens to 38 baht per US dollar

13 Sept 12:23 Key points summarised by AI

The Thai baht depreciated to 38/$US, primarily driven by the US Federal Reserve's interest rate hikes, which strengthened the dollar and weakened other currencies.
Kasikorn Bank forecasts a short-term dip before strengthening to 35/$US by year-end, while CIMB Bank warns the baht could fall to 40/$US if US rates continue to rise.
The Bank of Thailand faces a dilemma: gradually increasing rates risks market turmoil and speculation, while a substantial hike could curb inflation and outflows but slow economic recovery.

Today 14:58 Key points summarised by AI

Thailand's government will launch the "Chainat-Pasak-Gulf" water diversion canal project in fiscal year 2027, a seven-year mega-infrastructure initiative.
This permanent structural solution aims to mitigate recurrent central plains flooding by diverting water from the Chao Phraya River directly into the Gulf of Thailand, significantly reducing flow to major cities like Ayutthaya and Bangkok.
Prime Minister Anutin Charnvirakul justifies the long-term investment as a means to reduce future damages and fiscal burdens, contrasting it with the 40-50 billion baht spent annually on short-term flood relief.
Concurrently, the Prime Minister instructed officials to expand drainage capacity into the Tha Chin River and swiftly remove water hyacinths to improve immediate flood management.