Monday, July 26, 2021

business

Covid-19 situation pressuring baht


The baht opened at 31.84 to the US dollar on Thursday, strengthening from Wednesday’s closing rate of 31.86.

The Thai currency is likely to move between 31.80 and 31.95 during the day, Krungthai Bank market strategist Poon Panichpibool said.

Poon reiterated that the baht was being affected by the Covid-19 situation in Thailand, which has not shown any marked improvement. Meanwhile, vaccine management was slow and not rolling along smoothly. Amid this situation, investors decided to sell their assets in Thailand, pressuring the Thai currency, he said.

Despite the baht closing in on 32 per US dollar, Poon still believed the currency would not reach that point.

Published : June 24, 2021

By : The Nation