Baht makes slight gains, but limited room for further appreciation

The Thai currency is likely to move between 29.90 and 30.05, Krungthai market strategist Poon Panichpibool said.

He said that the baht will not strengthen much, despite the dollar weakening and gold price rising.

He added that importers would purchase the dollar when the baht is over 30 to the greenback. At the end of this month, the purchasing power of importers will tend to return.

Poon advised investors to monitor foreign funds flows in the short term, which could affect the Thai currency. The value of stocks and bonds sold by foreign investors recently was over Bt3 billion.