Companies are seeing thinner margins and tourists are staying away as the currency’s rise compounds the country’s economic slowdown
From farms and factories to hotels, Thai businesses are feeling the bite of a strong baht, which is eroding export margins and raising fears that holidaymakers will seek better value destinations elsewhere in Asia.
The baht has gained more than 8 per cent against the US dollar this year, rising from 34 to the dollar on January 1 to a high of 31.70 on September 9 before easing back to about 32.40.
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