Summary: Key Drivers of Thai Baht Depreciation in October 2025
Weak export and tourism recovery: Thailand’s export sector remains sluggish amid global economic slowdown, while inbound tourism—especially from China—has yet to fully rebound.
Monetary policy expectations: Market anticipates a potential rate cut by the Bank of Thailand to support domestic growth, reducing the relative attractiveness of Thai assets.
Global uncertainty and USD strength: Ongoing volatility in global markets and mixed signals from U.S. economic policy have led to cautious capital flows, contributing to short-term baht weakness.
We have revised our USD/THB forecast range for October 2025 to 32.09–33.28 baht per US dollar.
Weak export and tourism recovery: Thailand’s export sector remains sluggish amid global economic slowdown, while inbound tourism—especially from China—has yet to fully rebound.
Monetary policy expectations: Market anticipates a potential rate cut by the Bank of Thailand to support domestic growth, reducing the relative attractiveness of Thai assets.
Global uncertainty and USD strength: Ongoing volatility in global markets and mixed signals from U.S. economic policy have led to cautious capital flows, contributing to short-term baht weakness.
We have revised our USD/THB forecast range for October 2025 to 32.09–33.28 baht per US dollar.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.