Outflows pressure Thai baht
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The Thai baht weakened as much as 30.27-29 per US dollar today, following capital outflows.
According to a dealer at CIMB Thai Bank, the baht opened at 30.16-18 per dollar due mainly to the weakening of euro against US dollar as well as outflows. Investors worldwide are fretting over the possible default of Greece's debts. In the Thai stock market, foreigners were net-sellers today with net-sell position worth over Bt3 billion.
The baht ended the day at 30.24-26.
The dealer expected the baht to move in the range of 30.25-35, pending the euro zone's measures in dealing with the public debts.
