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Bangkok Post
Bangkok Post
Business

YOU WONT BELIEVE: Baht surges amid us bank collapse - You Need To See This

Silicon Valley Bank's logo is seen in this illustration taken March 10, 2023. The baht has appreciated against the US dollar due to the US bank's closure, said Ms Suwannee. (Photo: Reuters)

The baht on Monday surged against a significant fall in the US dollar mainly due to the sudden collapse of Silicon Valley Bank (SVB) and the market's expectation that the US Federal Reserve (Fed) would slow down its policy rate hikes.

On Monday, the baht opened at 34.65 per dollar, after closing at 35.02 last week.

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