PATTAYA, Thailand – The Thai baht has been trading within a range of 33.45-34.00 THB/USD for the week, with the 24-hour forecast suggesting a tighter range between 33.60-33.80 THB/USD. After opening at 33.72 THB/USD on March 10, slightly weaker than the previous week’s close of 33.64, the baht has fluctuated within a sideways-up pattern, influenced by the recent mixed US employment report and a slight rebound in gold prices.
The baht weakened further after US Federal Reserve Chairman Jerome Powell’s comments, which reinforced the US economic recovery and the Fed’s commitment to not cutting interest rates quickly. The baht also faced pressure from a drop in gold prices, tied to the strength of the US dollar and rising US bond yields. As a result, the baht is expected to remain in a sideways range this week, with geopolitical risks and upcoming US economic data, particularly the Consumer Price Index (CPI), closely monitored.
For Pattaya’s tourism, the potential volatility of the baht can benefit the local tourism industry, as a weaker baht may make Thailand more attractive to foreign tourists. International travelers, particularly those from countries with stronger currencies like the US dollar, euro, and yen, could find Pattaya to be more affordable, thus boosting tourism in the city.
Additionally, foreign investment in Thai assets, including the stock market, may also increase, which can further stimulate local economic growth and tourism-related businesses. With the expected uptick in tourism, Pattaya can see more international visitors, driving demand for hotels, restaurants, and attractions, thereby supporting its vibrant tourism sector.
