Thailand's baht rose to its highest level since August as the country's tourist-dependent economy benefited from a relaxation of vaccination restrictions for visitors.

The currency increased by 1.2 percent to 33.483, its highest level since August 24. From Nov. 1, visitors from ten low-risk countries will not be required to undergo pre-arrival isolation, according to Prime Minister Prayuth Chan-Ocha.

“This is positive news for the baht which has been the worst performer in Asia,” said Irene Cheung, senior strategist in Singapore at Australia & New Zealand Banking Group Ltd. “The reopening of Thailand to international travel is key to the economy and limits the negative impact of the recent turn from a surplus to a deficit position in the current account.”