Baht weakens, trend likely to continue until May
The baht opened at 31.12 to the US dollar on Monday, weakening from its close of 31.10 on Friday.
The Thai currency is likely to move between 30.85 and 31.30 this week and between 31.10 and 31.20 during the day, Krungthai Bank market strategist Poon Panichpibool said.
The baht in the short term will move in line with the dollar. The US economic recovery has strengthened the dollar, while Europe is battling a new wave of Covid-19.
Poon advised investors to monitor funds flowing into the stock market.
He predicted that the baht would tend to weaken from April to the middle of May, adding that the Thai currency would strengthen at the end of this year.
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