PATTAYA, Thailand – The Thai baht weakened last week amid a mix of domestic political concerns and external economic pressures, Kasikorn Research reported, warning that currency movements could influence tourism hotspots like Pattaya.
The baht fell in line with other Asian currencies, while the US dollar gained strength following rising US bond yields. Additional downward pressure came from declining global gold prices, foreign fund outflows, and lingering domestic political uncertainties. Kasikorn Research expects the baht to trade between 32.10–33.00 THB per US dollar this week (Aug 25–29).
Thailand’s export data for July, along with domestic politics and foreign capital flows, are seen as key factors driving the currency. “Tourism-dependent cities such as Pattaya are sensitive to currency swings, as a weaker baht can make trips more expensive for foreign visitors and influence spending patterns,” the report noted.
The Thai stock market reflected some of this uncertainty. The SET index moved sideways last week, with support at 1,240–1,215 points and resistance at 1,260–1,285 points. Investor sentiment was affected by political developments, including the acquittal of the former prime minister, and earnings results from major companies.
Kasikorn Research also highlighted that US economic data, including new home sales, durable goods orders, and consumer confidence, will play a role in global capital flows that could further impact the baht.
As Pattaya gears up for its busy tourist season, city officials and businesses are monitoring the baht closely, hoping that favorable exchange rates can help maintain strong foreign arrivals and spending despite global uncertainties.
