Key Points
- The “uncharacteristic under-performance in the Thai Baht, rendering it the worst performer to date in 2021,” Mizuho Bank said in a note on Friday.
- Thailand had only over 34,000 tourist arrivals as of May this year, compared with over 39 million in 2019.
- It’s going to be “very challenging” for Thailand to reopen up to tourists while still battling the Covid pandemic, said Nomura’s Chief Asean Economist Euben Paracuelles.
Asian currencies: Thailand Covid, lack of tourism hit Thai baht