The Bank of Thailand (B.O.T.) has been instructed to keep a close eye on the value of the Thai Baht. This follows a meeting between government ministers, senior economic officials and the governor of the B.O.T. Despite the internal political problems in Thailand, the Thai Baht has strengthened this year. Economic experts say this is because Thailand has maintained strong exports and has a large trade surplus. In common with a number of other Asian countries, Thailand has largely managed to avoid the worse effects of the economic downturn which has hit Western economies in Europe and America. This has also meant that Asian economies have proved to be an attractive target for foreign currency speculators looking for a return on their money. However, the Bank of Thailand has played down the effect that foreign currency speculation has had on the Thai economy.
What Does This Mean for Visitors to Thailand?
In very broad and simple terms, this all equates to tourists in Thailand getting less Thai Baht in exchange for their dollars, euros or pounds. The graphs below show the value of four major currencies against the Thai Baht in the last 3 months.
Baht to the US Dollar (USD)
Baht to the Pound (GBP)
Baht to the Australian Dollar (AUD)
Baht to the Euro (EUR)
graphs from exchange-rates.org
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