The recent strengthening of the baht against the dollar may not be sustainable, the central bank warned, though an analyst said he is cautious about the prospects of a weaker baht for the year and that it may actually be relatively strong towards the end of the year.
The baht, along with other regional currencies, has risen against the greenback now that there are signs of the novel coronavirus being contained, said Don Nakornthab, senior director at the Bank of Thailand.
The baht and other regional currencies were hit hard in March due to a fast-rising number of confirmed Covid-19 cases. The Thai currency weakened to about Bt33 against the dollar in March, but moved into the Bt32 range in recent weeks.
MORE Stronger baht may not be sustainable, central bank warns