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    Thai Baht Forecasts 2021

    Forecasts for the Thai baht change all the time, affected by news events and relative sentiment towards the Thai economy.

    Forecasts Updated: Jul 27, 2021

    What’s in this Thai baht forecast summary?

    1. THB markets
    2. USD to THB
    3. AUD to THB

    Thai baht in the markets

    USD/THB – Against the Thai Baht, the Dollar was more subdued in its trade. The USD/THB pair finished at 32.95 on Friday from 32.68 a week ago. The overall range for USD/THB was between 32.57 low (Wednesday) and 32.96 high (Friday). Thailand is also experiencing a “steep upward curve” in new Covid infections of the Delta variant according to the country’s Department of Disease Control.

    The Thai Baht has dropped 6% so far this year against the US dollar due to greenback returning to strength, this may eventually help with a tourism lead recovery of the Thai economy post virus.

    Pre-covid the tourism industry contributed around 20 percent of Thailand's total GDP, so the dramatic impact to tourism from the coronavirus pandemic is expected to plunge Thailand into a recession.

    Recent years have been extremely kind to the baht. The Thai baht was amoung the best performing currency in Asia for 2019 to early 2021, the baht rose to a 6-year high against the US dollar (near ฿30) and to a 10-year high against the Australian dollar (฿21.35), as well as to long-term highs against a host of other major currencies.

    The baht has previously being supported by the Thai large current-account surplus and has benefited from speculation that Thai stocks will soon be assigned a larger weighting in the MSCI Emerging Markets index, which would result in significant amounts of foreign capital entering Thailand.

    USD to THB

     
    USD to THB at 32.89 has risen 3.5% above its 90-day average, range 31.03-32.96.
    |
    90-DAYHIGH3d
     

    AUD to THB

    Besides the protests last year AUD/THB forecasts have been primarily focused on the coronavirus impact on and response by both economies, in particular the drastic impact to tourism for Thailand. AUD-THB Forecasts

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    Disclaimer: Please note that the currency forecasts and opinions of our authors should not be taken as a reference to buy or sell any financial product.