PATTAYA, Thailand – This week, the Thai baht is expected to fluctuate within the range of 33.75 to 34.80 THB/USD. In the next 24 hours, the currency is anticipated to be in the 34.10-34.35 THB/USD range, slightly depreciating from the morning opening on March 3 at 34.24 THB/USD, compared to the previous week’s closing of 34.17 THB/USD. Since Friday night, the baht (USDTHB) has gradually weakened, trading between 34.10-34.31 THB/USD.
The initial pressure came from a decline in gold prices (XAUUSD), followed by additional pressure from a strengthening dollar. This comes amid growing concerns over the peace negotiations to end the Russia-Ukraine war, with increased uncertainty after chaotic talks between U.S. and Ukrainian leaders.
Looking ahead, the baht remains at risk of further depreciation. However, the momentum of this depreciation might slow down. Investors should closely monitor the direction of the U.S. dollar, Chinese yuan, and gold prices. Foreign fund flows may also continue to exit the Thai capital markets, as long as market players remain concerned about the potential ongoing weakness of the baht, which could fall to 35 THB/USD.
Impact on Pattaya
A weaker baht could be beneficial for Pattaya, especially in terms of tourism. As the value of the baht drops against the U.S. dollar and other foreign currencies, Pattaya becomes a more attractive destination for international visitors.
This could lead to an increase in tourism, boosting local businesses, hotels, restaurants, and attractions. International travelers may find their money goes further in Pattaya, stimulating the local economy and supporting the tourism industry, which is a major driver of Pattaya’s growth.
