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Baht appreciates but expected to be at its weakest this quarter


The baht opened at 31.40 to the US dollar on Friday, strengthening from its close of 31.47 on Thursday.

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The Thai currency is likely to move between 31.35 and 31.45 during the day, Krungthai Bank market strategist Poon Panichpibool said.

 

He said the baht would not move in line with other Asian currencies, which tend to strengthen due to the weakened dollar.

 

Poon predicted that the baht would be weaker than 31.30 per US dollar, or 31.65 maximum, due to the new wave of Covid-19 in Thailand, as well as the purchasing of foreign currencies some companies to pay dividend.

 

He also forecast that the baht would be at the weakest point this quarter.

Published : April 09, 2021

By : THE NATION