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Baht set to ‘fluctuate’ today
The baht opened at 31.36 to the US dollar on Wednesday, strengthening from its close of 31.43 on Tuesday.
The Thai currency is likely to move between 31.30 and 31.45 during the day, Krungthai Bank market strategist Poon Panichpibool said.
He predicted that the baht would fluctuate on Wednesday over concern of the Covid-19 situation in Thailand.
However, the baht would weaken slightly as exporters aim to sell the currency when it goes to 31.45-31.50 per US dollar.
Poon warned that foreign investors could sell their Thailand assets in case the virus situation worsened. In this situation, the baht would be weaker, despite a stable dollar, he added.
Published : April 28, 2021
By : The Nation