The baht appreciated at 32.40 baht per dollar this morning. Regional currencies have strengthened in 30 months, while regional currencies have moved in a mixed mix of strength and weakness. Analysts estimate that the factor that the baht strengthened is due to the fact that the global gold price hit a new high. It reached 2,669 US dollars per ounce. however Thai gold did not rise as high as the global market was due to the strengthening of the baht. This morning, gold bars sold at 41,000 baht per baht of gold and followed the US dollar. After the Federal Reserve (Fed) cut interest rates by 0.50 percent, the market still expects the Fed to cut interest rates by another 0.50% at its November meeting. As a result, the market is open to money trading risks. The range of the baht's movement today is estimated at 32.25-32.55 baht/dollar. The Central Bank of China (PBOC) announced a reduction in the reserve requirement ratio (RRR) of commercial banks by 0.50% to 6.6%, and announced a reduction in the seven-day re verse repo rate from 1.7% to 1.5%, which will take effect from today (27 September). The PBOC said in a statement that the RRR cuts and bond repurchase rate cuts are aimed at strengthening monetary policy adjustments. To create a favorable environment for China's stable economic growth. This will increase long-term liquidity of about 1 trillion yuan to commercial banks to lend more and buy government bonds issued to support infrastructure spending. However, The Politburo Committee of the Communist Party of China (Politburo) pledged to increase fiscal spending to help China achieve its economic growth goals. , curb the collapse of the real estate sector and accelerate the implementation of interest rate cuts and RRR cuts as announced by the Central Bank of China this week. Source: Thai News Agency
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