Market news
26.05.2023, 07:53

USD/THB could return to the low 33.00 level by year-end if the global risk backdrop holds up – Commerzbank

THB has reversed all of the gains at the start of the year. But economists at Commerzbank believe that the USD/THB pair could return to the low 33.00 level by the end of the year.

Great expectations for THB tempered

“The Tourism Authority of Thailand (TAT) is projecting 25mn foreign tourist arrivals in 2023. This will be around 63% of the pre-pandemic level of 40mn in 2019. Nevertheless, it will still represent a notable rebound from 11.2mn in 2022. Even though optimism may be tempered, the influx of foreign tourism and tourism revenue should be a supportive factor for THB.”

“This year’s high of just above 35.40 for USD/THB should provide the immediate barrier near term.”

“If the global risk backdrop holds up and there are no adverse shocks, we could see USD/THB return to the low 33.00 level by year-end.”


© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location