Sun, October 17, 2021

in-focus

Baht expected to strengthen, but dollar could be deciding factor


The baht opened at 31.25 to the US dollar on Thursday, strengthening from its close of 31.27 on Wednesday.

 

The Thai currency is likely to move between 31.20 and 31.30 during the day, Krungthai Bank market strategist Poon Panichpibool said.

 

He predicted that the baht would strengthen due to a weakened dollar and the increased price of gold.

 

However, the dollar would still influence the baht in the short term, he said.

 

Poon also predicted that several foreign currencies would be purchased in the next few months for the purpose of paying dividends, and the baht would weaken more from this financial activity.

 

He said that during April and May, dividend payments would total more than Bt54 billion, believing that the second quarter would see the baht weakening the most.

Published : April 01, 2021

By : THE NATION