Thai baht hits four-year high, affecting exports and tourism. KResearch warns currency strength may drag on economic growth and export revenues. The Nation

Thai baht hits four-year high, affecting exports and tourism. KResearch warns currency strength may drag on economic growth and export revenues.

The Kasikorn Research Center (KResearch) reported that the Thai baht touched its strongest level in over four years at 31.58 baht per US dollar on the morning of September 9, before easing slightly to 31.74 baht in the afternoon. The movement mirrored regional currencies, including the Chinese yuan, amid US dollar selling pressure following expectations of a Federal Reserve interest rate cut.

In September, the baht strengthened sharply, supported by rising global gold prices and net purchases of Thai government bonds by foreign investors. Overall, the baht has appreciated 7.5% since the start of 2025, ranking among the strongest currencies in Asia.