Saturday, March 06, 2021

Baht makes slight gains, but limited room for further appreciation

Feb 23. 2021
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By THE NATION

The baht appreciated to 30.00 to the US dollar on Tuesday, up from Monday’s close of 30.03.

The Thai currency is likely to move between 29.90 and 30.05, Krungthai market strategist Poon Panichpibool said.

He said that the baht will not strengthen much, despite the dollar weakening and gold price rising.

He added that importers would purchase the dollar when the baht is over 30 to the greenback. At the end of this month, the purchasing power of importers will tend to return.

Poon advised investors to monitor foreign funds flows in the short term, which could affect the Thai currency. The value of stocks and bonds sold by foreign investors recently was over Bt3 billion.

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