Baht Set for Relief as Thai Current-Account Turns Surplus
- Upswing in tourism, lower freight costs brighten outlook
- Thai currency still beholden to external developments: ANZ
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A better-than-expected rebound in foreign tourist arrivals, lower oil prices and sliding shipping costs are brightening the outlook for Thailand’s current account, potentially offering a reprieve for the nation’s currency trading near a 16-year low.
Southeast Asia’s second-largest economy posted a surprise current-account surplus in September and with tourist arrivals gathering pace, the broadest measure of trade may get better in the fourth quarter, according to economists from Standard Chartered Plc and Australia & New Zealand Banking Group.