# Thai Baht Fluctuates Between 31.20–31.70 Against US Dollar as SET Index Rebounds

- Link: https://www.thailand-business-news.com/banking/279996-thai-baht-fluctuates-between-31-20-31-70-against-us-dollar-as-set-index-rebounds
- Published: 2026-01-19T10:13:21+07:00
- Author: Chloe Zhou

### Related**Posts**

###  󠀁[Thailand Faces a New Economic Test Nearly 30 Years After Its IMF Rescue](https://www.thailand-business-news.com/economics/334123-thailand-faces-a-new-economic-test-nearly-30-years-after-its-imf-rescue)󠁿

###  󠀁[Thailand Business News — Morning Briefing](https://www.thailand-business-news.com/news/headline/334027-thailand-business-news-morning-briefing-4)󠁿

###  󠀁[IMF says AI investment is giving Thailand’s technology supply chain a boost](https://www.thailand-business-news.com/economics/333785-imf-says-ai-investment-is-sustaining-global-growth-giving-thailands-technology-supply-chain-a-boost)󠁿

###  󠀁[Singapore Pillar Two Registration: Steps Multinational Groups Should Take](https://www.thailand-business-news.com/asean/329970-singapore-pillar-two-registration-what-multinational-groups-need-to-do)󠁿

**The Thai baht traded within a narrow range against the US dollar amid fluctuating
investor sentiment, while the stock market rebounded. KResearch predicts continued
monitoring of currency movements and foreign fund flows.**

---

## Key Points

 * The Thai baht traded within a narrow range of 31.20 to 31.55 per US dollar, reflecting
   global market influences. KResearch forecasts a trading range of 31.00 to 31.70
   per dollar for next week, anticipating support for the SET Index at 1,260 and
   1,250 points.
 * Factors influencing the baht included strong global gold prices and dovish comments
   from the Bank of Thailand. The currency rebounded toward the week’s end after
   the US dollar faced selling pressure, closing at 31.39 per dollar.
 * The SET Index experienced fluctuations due to domestic selling pressures but 
   recovered thanks to foreign buying, closing at 1,275.60 points. Average daily
   trading value decreased to 40.15 billion baht. Investors will monitor foreign
   fund flows and upcoming key US economic data.

### **Market Overview of the Thai Baht and Stock Exchange Movements**

The Thai baht has been exhibiting **limited fluctuations**, trading between 31.20
and 31.55 per US dollar over the past week. This stability is attributed to the 
currency’s initial strengthening linked to surging global gold prices, which reached
record highs, coupled with a weakened US dollar due to uncertainties surrounding
the Federal Reserve’s stance. However, the baht softened midweek after dovish comments
from the Bank of Thailand governor raised concerns about potential interest rate
cuts, influencing investor sentiment. Towards the end of the week, the baht regained
some strength, closing at **31.39 per dollar** compared to **31.43** the previous
Friday.

ADVERTISEMENT

### **Stock Market Dynamics and Future Expectations**

The Thai stock market also saw a rebound, closing up **1.72%** on January 16, despite
early week declines due to domestic selling pressure, particularly in health-related
stocks amid concerns over policy changes. This selling was further fueled by profit-
taking in retail and electronics sectors. The recovery was led by foreign investment
focusing on energy and finance stocks, driven by higher global oil prices amid geopolitical
tensions. The Stock Exchange of Thailand (SET) Index is projected to face support
levels at **1,260 and 1,250 points** and resistance at **1,285 and 1,300 points**,
as observers watch for shifts in foreign fund flows, economic indicators, and global
market sentiments.