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Baht strengthens a tad

NationalDec 30. 2020

The baht opened at 30.05 to the US dollar on Wednesday, weakening from 30.04 at close on Tuesday, Krungthai Bank markets strategist Poon Panichpibool said.

He said the currency would move between 29.90 and 30.15 per US dollar due to low financial transactions as this was the year-end.

Financial markets were in a risk-off state, pressuring the S&P 500 and Russell 2,000 Index to drop by 0.2 and 1.87 per cent, respectively, the main factor being US senators’ objection to increasing government assistance from a monthly $600 to $2,000 for Americans. This led to market concerns over a US recovery from the Covid-19 crisis.