Standard Chartered forecasts the Thai baht will weaken to ~32.50 per dollar by end-2026, despite recent temporary appreciation from coordinated US-Japan yen intervention. While a weaker baht may boost exports and tourism competitiveness, the bank warns it cannot offset deeper economic headwinds: subdued domestic demand, weak foreign tourist arrivals (down 3% YoY), and slowing growth projected for Q2. The bank expects tourism recovery to remain uneven and consumer confidence fragile, making structural economic reform—not currency weakness—the priority for sustainable growth.