Baht’s rebound driven by tourism, but volatility remains(AFP photo)The baht rebounded so rapidly in the past few weeks on optimism about the country’s tourism-led growth that it’s already hit year-end analyst targets. In addition to rising forecasts for tourist arrivals, the advance is also being driven by a narrowing current-account deficit due to falling oil prices. The currency’s rebound was driven by a combination of dollar weakness, the Bank of Thailand’s policy shift, signs of a recovery in tourism and firmer economic data, he said. That rebound is vital, considering that the travel-related sector accounted for about a fifth of the nation’s economy before the pandemic. He cited the tourism rebound, dip in oil prices and lower freight costs.

Source: Bangkok Post August 15, 2022 14:48 UTC