Thai Baht Posied to Be Asia’s Worst Performing Currency

The Thai baht came under pressure again on Monday as rising cases omicron continues to surge in the country along with the region.

Thai baht went up by 0.24% to THB/USD 33.52. The currency is set to be the Asia’s worst performer this year, pressure by the falling tourism. Amid rising cases of omicron variant, various measures to revive the tourism sectors were cut back.

Thai government earlier last week restored the mandatory quarantine for all inbound travelers.

Analyst at Bank of America, earlier noted as reported by Reuters, “the baht has significantly exceeded its expected depreciation due to struggles with tourism reopening, and a greater current account deterioration relative to other countries,”.