Baht boosted by weaker dollar, but likely to weaken in second quarter
The baht opened at 31.20 to the US dollar on Friday, strengthening from its close of 31.31 on Thursday.
The Thai currency is likely to move between 31.15 and 31.30 during the day, Krungthai Bank market strategist Poon Panichpibool said.
He explained that the baht had strengthened due to the weaker dollar and the fall in the price of gold. However, the baht could weaken if the dollar strengthened again.
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, and the second quarter would see the baht weaken the most.
