PATTAYA, Thailand – Travelers planning a visit to Thailand this high season may find their spending power under pressure, as the Thai baht shows signs of renewed strength against the US dollar.
Krungthai GLOBAL MARKETS reported the baht opened at 32.47 per USD on the morning of November 3, with momentum for further weakening showing signs of stabilizing. Analysts at Krungthai expect the baht to trade in a weekly range of 32.20–32.80 per USD, with a near-term 24-hour window between 32.35–32.55 per USD.
After weakening slightly from last week’s close of 32.30 per USD, the baht has edged closer to resistance at 32.50, pressured by a stronger US dollar following a hawkish tone in recent Federal Reserve statements. Gold prices have also retreated below the $4,000 per ounce level amid rising US financial market risk sentiment.
Looking ahead, market watchers are closely monitoring key US economic indicators, including the ADP private employment report and ISM manufacturing and services PMI, as well as corporate earnings reports and Fed officials’ statements. These developments may influence both the US dollar and the baht, with potential two-way risks depending on market reactions to monetary policy signals.
For foreign tourists, this could mean enduring a baht close to 33 per USD during Thailand’s high season, slightly reducing the cost advantage of travel and shopping. While short-term fluctuations are possible, analysts suggest the baht is unlikely to weaken significantly without major shifts in global interest rate expectations or economic data surprises from the US.
Tourists planning to visit Pattaya, Bangkok, Phuket, and other major destinations should be aware that a stronger baht could impact hotel rates, shopping, dining, and entertainment costs this season, making budgeting more important than ever.
