Recently, the Thai baht has declined against the US dollar for the second consecutive trading day, drawing widespread market attention. According to data, the exchange rate of the US dollar against the Thai baht has increased by 0.9% over the past two days, reaching 33.901, marking the largest two-day gain since January 6.
On January 27, at an economic forum held in Bangkok, Thailand's Finance Minister Pichai Chunhavajira once again recommended to the Thai central bank to lower borrowing costs. He emphasized that the current monetary policy needs more flexibility to enhance the international competitiveness of the Thai baht, thereby promoting the recovery of Thailand's main export industries and tourism sector.
Pichai stated that lower borrowing costs not only help reduce the financial pressure on businesses but also make export goods more attractive on the international market by depreciating the baht. He specifically mentioned that the tourism industry, an important pillar of Thailand's economy, requires more accommodative monetary policy to support its further development.
In recent years, the volatility of the Thai baht has become a significant factor affecting Thailand's economy. Experts pointed out that a weaker baht might boost export and tourism income in the short term but warned of the risk of capital outflow. Meanwhile, the market is keenly watching whether the Thai central bank will adjust its policies in response to the finance minister's calls.
Currently, the Thai central bank has not made a clear response to this suggestion, but market analysts believe that the future trend of the baht will depend on the central bank's policy direction and changes in the global economic situation.
