Baht expected to strengthen only slightly
The baht opened at 30.69 to the US dollar on Thursday, unchanged from Wednesday’s close.
The Thai currency is likely to move between 30.60 and 30.75, Krungthai Bank market strategist Poon Panichpibool said.
He said the baht would strengthen in line with the weakened dollar, but it would be only slightly as importers tend to buy the US currency when the baht touches between 30.60 and 30.70 per dollar.
Poon suggested investors should monitor foreign fund flows in the short term, especially in stocks, which could fluctuate with the Covid-19 situation in Thailand.
He added that the baht could strengthen if more funds flow into Thailand.