Thai baht falling over Omicron fears and strong US dollar

As the Covid-19 pandemic drags on, it’s not just our patience and our resolve that is weakening. The Thai baht is falling too, weakening against a stronger US dollar and global fears over the impact of the Omicron variant rapidly spreading throughout the world.

Today the conversion rate stands at 33.59 baht to the US dollar just off of its peak in December of 33.7. The Thai baht had been slowly gaining ground on the US dollar, as 5 years ago the conversion rate was above 35 baht to the dollar. At around this time last year in late January the rate had peaked as low as just under 30 baht.

A market strategist for Krungthai Bank says that Thailand can expect to see its currency fluctuate between 33.45 and 33.65 baht to the dollar throughout the day. The strategist said that the baht is suffering under Covid-19 Omicron uncertainty as well as a US dollar growing stronger.

As Thailand…