Thai Baht’s Downturn Could Be Worse Than Usual This Year

A seasonal downturn in Thailand’s baht driven by dividend outflows and a lack of tourists could be worse than usual this year amid rising global bond yields and less liquidity, according to Kasikornbank Pcl.

A dropoff in tourists after the Songkran festival in mid-April and payouts to foreign stock investors usually spell declines for the currency in May. Last year was the first time the baht managed to rally in that month since 2009.