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Baht may weaken, but only ‘marginally’

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The baht opened at 31.27 to the US dollar on Thursday, strengthening from Tuesday’s close of 31.37.

The Thai currency is likely to move between 31.25 and 31.35 during the day, Krungthai Bank market strategist Poon Panichpibool said.

He predicted that the baht would weaken slightly depending on the dollar’s performance and purchases of the US currency.

Poon also suggested that Covid-19 across Asia should be monitored as it was a factor that could influence Asian currencies, making them fluctuate.

He said the baht was supported by the gold trade, so the currency will not weaken sharply. Exporters aimed to sell the baht when it moved near 31.40-31.50 per US dollar, he added.

Published : May 27, 2021

By : The Nation