The Bank of Thailand says that the Thai Baht will continue to fluctuate amid a trade war between China and the United States.
BoT governor Veerathai Santiprabhob is convinced that Asian currencies will continue to move up and down as long as China and the US continue to take retaliatory economic measures against one another.
He also attributed the currency fluctuations to global circumstances, saying many industrialized nations have made significant adjustments to their trade policies including interest rates in response to stiffer tariffs instigated by the US and China.
As a result, the value of the Thai Baht is likely to fluctuate in accordance with international developments.
The governor also made known that the central bank has revised the country’s annual GDP growth target from 4.1% to 4.4% partly thanks to the vigorous export sector, tourism, and the restructuring of the agricultural industry.