The Thai Baht Paradox: Currency Climbs as Economy Falters

The Thai Baht Paradox: Currency Climbs as Economy Falters

File photo In a striking turn of events, the Thai baht has recently surged against the US dollar, reaching 32.70 baht per dollar, raising concerns for Thailand's fragile economy. Despite appearing strong, this appreciation is not driven by domestic growth but by global factors like geopolitical tensions and rising gold prices. Experts warn this trend poses significant challenges, especially for the Thai export sector, a crucial componen…

Stronger baht, smaller budgets – Tourists in Pattaya receive less baht when exchanging money. (Photo: Beach Road, Pattaya) PATTAYA, Thailand – Tourists in Pattaya are currently having to dig deeper into their pockets: The Thai baht has unexpectedly strengthened, reducing its value when exchanging foreign currencies and causing travel budgets to shrink. On Wednesday morning (May 21), the baht opened at 32.88 per US dollar – a noticeable increase …

Strong baht defies fragile Thai economy, raising fears of further strain on exporters

The Thai baht has strengthened sharply this week, recently reaching 32.70 baht per US dollar, continuing its appreciation trend since the beginning of the month amid global financial market volatility and rising global gold prices.