The lowdown on the Thai Baht
Economical Influences on the Thai Baht Exchange Rate
Thailand has a relatively well-developed free enterprise economy that is highly dependent on international trade.1
Exports account for over two thirds of Thailand’s GDP including electronics, agricultural commodities, automobiles and parts, and processed foods.1
The country’s industry and service sectors are also very strong and account for almost 90% of Thailand’s GDP.1
In 2018 the rapid growth of the Thai baht sparked worries that Thailand’s exports would become less competitive, slowing their trade.2
Thai Baht Historical Exchange Rate
Despite some fluctuation, the THB has been strengthening against the NZD steadily over the past 5 years.3
On 28 June 2014 the THB was converting to 28.49174 per NZD, improving to 25.14728 per NZD by 30 September of the same year.3
By 18 July 2015 the Thai baht had continued to strengthen, with the NZD equalling around 22.32 THB.3
A year later the THB was converting to around 25.68 per NZD, but by 20 May 2017 the figure had weakened down to around 23.78 per NZD.3
By 29 November 2017 this positive trajectory for the baht had continued with the THB trading at 22.47865 per New Zealand dollar.3
On 6 October 2018 the THB was converting to 21.13480 per NZD, remaining stable to equal 21.41288 per NZD as of 18 January 2019.3