Baht opens slightly stronger on Tuesday, wide fluctuation forecast
The baht opened at 32.68 to the US dollar on Tuesday, strengthening from Monday’s close of 32.70.
Krungthai Bank forecast the Thai currency would move between 32.60 and 32.80 during the day.
It added that the baht is likely to fluctuate in a wide range due to pressure from the Ukraine-Russia conflict.
Krungthai said the baht could weaken if the gold price falls and attracts investors.
However, the Thai currency would not weaken significantly unless the market enters a risk-off state. In the short term, the baht’s key resistance level remains at 32.80 to 32.90 to the dollar, the bank said.
