Thailand Vows to Curb Baht Swings as Currency Hits 4-Year High

Thailand’s central bank vowed to take steps to ease baht volatility and limit the influence of gold prices after the local currency rallied to a four-year high.

The baht rallied to its highest level since June 2021 on Tuesday, extending its gains this year to around 8%. The surge is seen as a blow to trade-reliant Thailand as it deals with the fallout of a 19% US tariff on its exports. The baht strength also discourages foreign tourists, a key source of revenue for the Southeast Asian nation.