Baht opens unchanged, markets wary of Covid-19 situation
The baht opened at 31.43 to the US dollar on Tuesday, unchanged from its close on Monday. The Thai currency is likely to move between 31.35 and 31.50 during the day, Krungthai Bank market strategist Poon Panichpibool said.
Poon said that if the dollar remained stable, the two main factors that could affect the baht were the Covid-19 situation in Thailand and the purchase of foreign currencies by some companies for paying dividends .
The market strategist said that foreign investors were concerned about the virus crisis in Thailand as was evident from the sales of Thai stocks.
In case the Covid-19 situation did not worsen, the baht would tend to move between 31.35 to 31.50 per US dollar.
