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Baht strengthens, but ‘could weaken’

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The baht opened at 31.30 to the US dollar on Wednesday, strengthening from its close of 31.41 on Monday.

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The Thai currency is likely to move between 31.25 and 31.40 during the day, Krungthai Bank market strategist Poon Panichpibool said.

 

He said there is a chance the baht could weaken, despite the dollar weakening slightly. In the next one or two months, the dollar will move in a stable range, or strengthen again, if the US economy continues to recover.

 

Poon added that several foreign currencies were purchased for the purpose of paying dividends, and the baht would weaken more from this financial activity, especially during the week after Songkran, when the purchasing rate of currencies tends to increase.

 

Published : April 07, 2021

By : THE NATION