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Thai Baht’s Biggest Surge Since 1998 Hurts Tourism and Exports

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Thai Baht’s Biggest Surge Since 1998 Hurts Tourism and Exports

The Thai baht has surged to its highest level since the 1998 Asian financial crisis, posing risks to Thailand's tourism and export sectors. The baht’s appreciation, partly due to a weakening US dollar, is making Thai products less competitive and reducing foreign tourists' spending power. Thai officials have urged the Bank of Thailand (BOT) to manage the currency's volatility. The strong baht has increased production costs and imports, adding pressure to exports. The BOT plans to stabilise the currency, with further discussion expected at the Monetary Policy Committee meeting on October 16.

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