The baht’s heady gains are petering out, thanks to slowing growth and a central bank that’s bent on taming the currency’s strength. After clocking an 8% rise this year,...
The Thai baht has been the runaway success among Asian currencies this year -- surging more than 6% while the U.S.-China trade war has punished peers such as the South Korean won and Chinese yuan. There are two reasons why it may rise even more.
The Thai baht’s transformation from Asia’s best-performing currency in 2019 to one of its worst this year is poised to accelerate after the central bank cut interest rates and said it would boost financial-market liquidity to counter the impact of the coronavirus.
The Thai baht has gone from being Asia’s top-performing currency in 2019 to dead last in January. Finishing in the middle of the pack may be the best that can be expected this year as the central bank and a host of other forces line up against it.