Thailand started off this week with the baht weakening to a five-year low of 34.62 against the greenback. While in line with other Asean currencies that have softened against the US dollar, the performance is worth monitoring because it serves as an indicator in the country’s recovery.
What are the factors driving the baht’s movement this year?
The Thai currency was performing relatively well at the beginning of the year, up to 32.11 baht per dollar on Feb 18, before falling to 33.7 baht on March 28. The currency fell further to 34 baht to the dollar towards the end of April.
Poon Panichpibool, a markets strategist at…
