Listen to this articleThe baht could potentially appreciate to test 30 to the dollar in the near term amid a sharp rise in international gold prices to a new record high and broad weakness for the US dollar, say analysts. Surging gold prices have driven the baht to appreciate to a 4.5-year high of 31.10-31.12 to the greenback, as the dollar index extended its losses for the second successive session to 98.10 in early Asian trading hours. "In the short term, it is possible the baht could test 31 to the dollar, or even stronger than that," said a currency trader. Gold has soared nearly 70% this year and hit multiple record highs, while the ‌baht has risen more than 10%, making it the best-performing currency in the region. "It seems the Bank of Thailand has not clearly determined what are the domestic factors causing the baht to sharply appreciate in recent weeks.

Source: Bangkok Post December 24, 2025 00:17 UTC