The baht has reached its highest value since the beginning of the Asian Financial Crisis in 1997.
Owing to a buoyant economy and predictions of a further influx of foreign investment, the baht climbed to a rate of THB29.39 per USD1 this morning, according to a report by Bloomberg.
Fitch Ratings upgraded Thailand’s debt rating to BBB+ earlier this month, impressed both with the country’s political stability and continually expanding economy.
Thailand’s central bank has raised its growth forecast for 2013 to 4.9% and stated that this prediction will “most likely” be revised upwards yet.
