Mitsubishi UFJ: Oil price rebound may pressure Asian currencies, with Thai Baht and Indian Rupee particularly sensitive

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智通财经2026/07/20 02:11

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Mitsubishi UFJ currency analysts pointed out that due to the rise in geopolitical risk premium and a decrease in oil tanker traffic through the Strait of Hormuz, oil prices have rebounded, which may put pressure on Asian currencies.
The Thai baht and Indian rupee show greater sensitivity to the rebound in oil prices; last week, both currencies fell about 1% against the US dollar.
Analysts believe that the downside risk for the Thai baht remains dominant, especially against the backdrop of the continued deterioration in Thailand's balance of payments.

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Mitsubishi UFJ: Oil price rebound may pressure Asian currencies, with Thai Baht and Indian Rupee particularly sensitive

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