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https://www.nationthailand.com/business/40012432

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The baht opened at 32.27 to the US dollar on Thursday, strengthening from Tuesday’s close of 32.37.

The Thai currency is likely to move between 32.20 and 32.40 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.

He said the baht may stop strengthening and swing sideways because it has risen far beyond the estimated support level due to stock and bond transactions by foreign investors and gold sales.

However, Russia-Ukraine tension is keeping the market in a risk-off state and helping the dollar to advance, which might slow down the strengthening of the baht in the short term.

Poon suggested speculating on foreign investor transactions of Thai assets and the gold price. He said that if investors continued to sell their assets, it would lead to further strengthening of the baht.

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Published : February 17, 2022

By : THE NATION