PATTAYA, Thailand – The Thai baht opened the market at 33.53 baht per US dollar on February 25, slightly weaker but almost unchanged from the previous day’s closing rate of 33.50 baht per dollar. The baht depreciated within the range of 33.65-33.85 baht per dollar throughout the night, February 26. The currency showed slight depreciation due to the strengthening of the US dollar.
The dollar’s rise was influenced by former US President Donald Trump’s latest remarks, signaling that the US government would proceed with import tariff hikes on goods from Mexico and Canada after previously delaying them. This announcement led to the depreciation of the Mexican peso (MXN) and the Canadian dollar (CAD).
However, the baht found some support from rising gold prices (XAUUSD), which rebounded to around $2,950 per ounce.
The weaker baht presents a mixed impact on Thailand’s economy, particularly in tourism and real estate. In Pattaya, a key tourism and property investment hub, the baht’s depreciation could make Thailand more attractive for foreign visitors, as their purchasing power increases. This could boost tourism revenue and encourage longer stays.
For the real estate sector, a weaker baht enhances buying power for foreign investors, particularly those from Europe, China, and Russia, who frequently invest in Pattaya’s condominiums and luxury properties. This may lead to an increase in property sales, especially in the high-end market, as foreign buyers look to take advantage of favorable exchange rates.
However, the cost of imported goods and construction materials could rise, potentially affecting property development costs. Analysts suggest closely monitoring currency movements, as further depreciation could impact investor confidence in the long term.
