Saturday, July 24, 2021

business

Baht feels the heat from Covid-19 situation


The baht opened at 32.11 to the US dollar on Wednesday, weakening from Tuesday’s closing rate of 32.02.

The Thai currency is likely to move between 32.05 and 32.20 during the day, Krungthai Bank market strategist Poon Panichpibool said.

The most important factor influencing the direction of the baht is the Covid-19 situation in Thailand and in other countries, Poon pointed out.

He added that the US economy is recovering and market players are tending to hold more dollars, leading to the US currency strengthening.

Poon predicted that importers would buy dollars during this time as the baht weakens.

Published : June 30, 2021

By : The Nation