FRIDAY, March 29, 2024
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Baht expected to move in a narrow range

Baht expected to move in a narrow range

The baht opened at 31.20 to the US dollar on Tuesday, unchanged from Monday's close.

The Thai currency is likely to move between 31.10 and 31.30, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.
On Monday night, the markets were volatile. The S&P 500 index fell 1.6 per cent, while the VIX index rose by 30 per cent, the highest in October, due to investors’ concerns about US economic stimulus policies.
Moreover, some investors decided to sell risk assets in their hands, after Joe Biden’s popularity rating was much higher than that of Donald Trump.
Meanwhile, the US Ten-Year Treasury reached 0.77 per cent, while the dollar index dropped by 0.2 per cent, compared to other currencies. 
In Thailand, the baht would not move much in the short term. Moreover, he advised investors to monitor Asian currency movement, especially the yuan, which strengthened to 6.68 yuan per US dollar. If it continues strengthening, more capital will flow to Asian countries.

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