Thai baht finds its groove: Depreciation rate takes a dip

The Thai baht experienced a lessening in its depreciation rate in April, buoyed by an uptick in the country’s economic performance. A leading figure from the country’s central bank anticipates that the local currency will make a recovery in the second half of the year.

In the initial quarter of this year, the baht saw a 7.8% decline against the US dollar, making it the second most depreciated currency in Asia, closely following the Japanese yen, which underwent a 9.6% depreciation.

The South Korean won the third spot, depreciating by 6.5%. However, the Bank of Thailand’s senior director for financial markets, Sakkapop Panyanukul, indicated that the baht’s depreciation had slowed in the previous month, with a decline of 1.7% against the dollar, compared to the won’s 2.2% fall.

Up until now, the US dollar has seen an average…