Strength of Thai baht continues to be economic headache

Thailand’s currency is currently giving it a major economic headache, according to a Bloomberg report shared by ThaiVisa this morning.

The Thai baht has been the best performer globally against the US dollar for over 5 years now, but that strength has caused growth estimates to be cut for an economy relying on trade and tourism.

The ongoing US-China trade war hasn’t helped matters, with Thailand seeing the weakest economic expansion since 2014. The country’s efforts to invigorate the 

economy with over $10 billion of stimulus is not helped by its strong currency.

The Thai baht has strengthened against the US dollar more than any other Asian currency has, strengthening by 6% in 2019.

According to Australia & New Zealand Banking Group Ltd, officials will be wary of intervening too much in foreign-exchange markets with the U.S. closely monitoring countries’ currency policies and the Thai baht being seen as a safe haven.

SOURCE: ThaiVisa and Bloomberg

Adam Judd
Mr. Adam Judd is the Co-owner of TPN Media since December 2017. He is originally from Washington D.C., America, but has also lived in Dallas, Sarasota, and Portsmouth. His background is in retail sales, HR, and operations management, and has written about news and Thailand for many years. He has lived in Pattaya for over nine years as a full-time resident, is well known locally and been visiting the country as a regular visitor for over a decade. His full contact information, including office contact information, can be found on our Contact Us page below. Stories please e-mail About Us: Contact Us: