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    Thailand Relaxes Covid Rules for Tourists

    Global travel starts to revive so Thailand moves to revive its Economy after the pandemic.

    Updated: Mar 20, 2022  

    Foreign travelers don’t need to present a Covid-free certificate to get on flights starting April 1. However, you will still have to go through the RT-PCR test when you arrive and take an antigen test on the 5th day.

    The only caveat to this good news is that there is no reduction in the required cover of travel insurance to visit Thailand, which remains at US$20,000.

    Pubs and entertainment venues will remain closed. Though, the industry is demanding the reopening of these establishments.

    Authorities are working on a plan to classify the pandemic as endemic in the coming months but any progress towards it would depend on controlling the current outbreak before then.

    The government hasn’t stopped the Covid mask mandate or some of the restrictions imposed by Covid. These measures will remain in place until the outbreak has been tamed.

    Into the second quarter of 2023 the Thai baht remains weak at around the 34 level vs the US dollar.

    At this level the Thai baht represents good value for visitors now that Thailand has eased border controls to benefit from a rebound in global travel.

    Thailand announced 1 million tourists visited the country in July which shows the country is on track to returning to pre-Covid tourism levels.

    12 May 2023
    3% 2 Week
    25 Feb 2023
    0.2% 3 Month
    26 May 2022
    1.4% 1 Year
    27 May 2018
    8.9% 5 Year
    28 May 2013
    15.6% 10 Year
    31 May 2003
    16.7% 20 Year
    USD/THB historic rates & change to 26-May-2023

    FX analysts expect the AUD to THB exchange rate to remain relatively stable over the short term. The recent hike in the Australian cash rate by the Reserve Bank of Australia has failed to provide sustained support to the struggling Aussie dollar. While persistently strong labor market conditions and a rebound in house prices have given the policymakers scope to resume rate hikes, many experts believe that the RBA may delay further rate hikes, marking the peak within this tightening cycle. This outlook provides little incentive for investors to move away from the USD and its yield advantage, which has kept AUD trading within a well-defined range between 22.47 and 23.75 THB.

    While the Australian Financial Review Survey of 36 economists predicts the Aussie dollar to be at 0.71 USD by the end of 2023, the RBA's expected early rate cut in 2024 suggests that further AUD strengthening could be capped. In contrast, the Thai baht remains weak at around the 34 level vs the US dollar, which could offer good value for visitors in the country and encourage tourism. As of the previous 3-months, the AUD to THB exchange rate traded in a relatively stable 5.7% range, with recent forecasts indicating that this trend is likely to continue in the near term.

    12 May 2023
    1.1% 2 Week
    25 Feb 2023
    3.3% 3 Month
    26 May 2022
    6.9% 1 Year
    27 May 2018
    6.1% 5 Year
    28 May 2013
    21.7% 10 Year
    31 May 2003
    16.8% 20 Year
    AUD/THB historic rates & change to 26-May-2023

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    Posted under: #News #AUD #THB #USD

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