Thailand among countries still on US Treasury's currency monitoring list

Thailand remains on the US Treasury Department's currency monitoring list, according to the Treasury's latest semi-annual currency report published on July 24, 2026.

The report, conducted in accordance with the Omnibus Trade and Competitiveness Act of 1988, confirmed that no major US trading partner manipulated its currency to gain an unfair trade advantage in 2025. Despite this, 10 economies were retained on the monitoring list, which the Treasury describes as covering major trading partners whose currency practices and macroeconomic policies merit close attention. Those 10 economies are China, Japan, Korea, Taiwan, Thailand, Singapore, Vietnam, Germany, Ireland, and Switzerland. All 10 were also on the monitoring list in the January 2026 report.

Countries are placed on the monitoring list when they meet two of three criteria established under the Trade Facilitation and Trade Enforcement Act of 2015. Those criteria are a significant bilateral trade surplus with the United States, a material current account surplus, and persistent one-sided intervention in the foreign exchange market.

Notably, the report indicates that Thailand, Singapore, and Switzerland each met only one of the three criteria. The Treasury stated that these three countries will be removed from the list if they meet fewer than two criteria in the next report.

The Treasury also noted a broader shift in how it monitors currency practices. Starting this year, the Treasury said it is now monitoring more broadly the extent to which economies that choose to smooth exchange rate movements do so to resist depreciation pressure in the same manner as they do to resist appreciation pressure. This represents an expansion from the previous focus, which had traditionally centred on whether countries were intervening to resist currency appreciation in order to keep their exports cheaper.

For businesses and investors operating in Thailand, currency policy and exchange rate stability are ongoing factors worth monitoring when structuring cross-border transactions and long-term financial planning.

At SLF Legal, we work with expats, investors, and business owners across Koh Samui and Thailand to help navigate the legal and regulatory landscape, including matters related to business structuring, foreign investment, and compliance. If you have questions about how developments in international trade or economic policy may affect your interests in Thailand, we are here to help.

Contact SLF Legal in Koh Samui for professional guidance tailored to your situation.