However, SCB Financial Markets sees the Thai currency returning to an appreciation trend once the Middle East war ends. If the fighting continues, it could potentially drive up global energy prices and push inflation higher, which is a major concern. The caretaker government said last week it expects the war in the Middle East to persist for at least four weeks. The Russia-Ukraine war began on Feb 24, 2022, and global oil prices surged sharply when the war broke out, with Brent crude rising above $100 per barrel. In contrast, during the new Iran war oil prices peaked at $80-85 per barrel, he said.

Source: Bangkok Post March 09, 2026 00:25 UTC