FPO sees baht firming to 32 per dollar in 2026, but Fed-cut bets trimmed FPO sees baht firming to 32 per dollar in 2026, but Fed-cut bets trimmed
THURSDAY, JANUARY 29, 2026
Thailand’s Fiscal Policy Office expects the baht to strengthen in 2026, projecting an average of 32.0 per US dollar, supported by a weaker dollar outlook, higher gold prices and a current-account surplus. It cautioned that appreciation may be less pronounced as markets now expect fewer Fed rate cuts.