Baht rate unchanged in opening trade
The baht stayed at 30.03 to the US dollar on Wednesday, unchanged from Tuesday’s close.
The Thai currency is likely to move between 29.95 and 30.05, Krungthai market strategist Poon Panichpibool said.
He said the baht would continue to move in a narrow range, as no new factors have emerged to influence the market.
However, if the financial market calms down – after the US Federal Reserve chairman gave an assurance that the central bank’s policies would not change rapidly – the baht would tend to strengthen from foreign fund flows into Thailand in the short term, Poon said.
Importers will purchase the dollar when the baht strengthens to between 29.85 and 29.90 per US dollar, he added.
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