FX.co ★ Thailand’s USD Currency Swap Holdings Edge Down to $22.5B as of Early February

Thailand’s stock of U.S. dollar currency swaps slipped slightly, with the latest reading showing a decline to $22.5 billion, down from a previous level of $22.8 billion. The updated figure, released on 6 February 2026, points to a modest reduction of $0.3 billion in outstanding USD swap positions.

While the move is incremental, such shifts in currency swap volumes can reflect evolving liquidity conditions, hedging demand, or adjustments in foreign exchange management strategies. Market participants will be watching subsequent data releases to see whether this marks the start of a trend or remains a minor adjustment within a stable range of Thailand’s USD swap operations.