Baht unchanged in opening trade
The baht opened at 30.76 to the US dollar on Wednesday, unchanged from Tuesday’s close.
The Thai currency is likely to move between 30.70 and 30.85, Krungthai Bank market strategist Poon Panichpibool said.
He explained that investors were awaiting the results of the US Federal Open Market Committee meeting on Wednesday and Thursday. Meanwhile, the baht was weakening in line with a strengthened dollar.
Poon predicted that exporters would sell the US currency when the baht closes in on 30.80 per dollar. Meanwhile, importers would purchase the dollar when the baht nears 30.70.
RELATED