Thu, October 28, 2021

in-focus

Baht expected to see fluctuation in the short term


The baht opened at 30.74 to the US dollar on Tuesday, unchanged from Monday’s close.

The Thai currency is likely to move between 30.65 and 30.80, Krungthai Bank market strategist Poon Panichpibool said.

He said that the baht this time had moved in line with the market situation, which affected the dollar as well as exporters and importers.

Poon predicted high fluctuation in the baht rate over the short term. The Thai currency was affected by the strengthening dollar, which tends to move in line with the US Ten-Year Treasury.

He predicted that exporters would sell their dollars when it touches Bt30.80 to the dollar, while importers will buy the US currency when it approaches Bt30.60. The baht would tend to move between 30.60 and 30.80 per US dollar before the meeting of Federal Open Market Committee on March 16 and 17, he predicted.

Published : March 16, 2021

By : THE NATION