Baht opens unchanged against dollar on Tuesday

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https://www.nationthailand.com/business/40016119


The baht opened at 34.09 to the US dollar on Tuesday, unchanged from Monday’s closing rate.

Baht opens unchanged against dollar on Tuesday

The currency is expected to move in a range between 34 and 34.15 on Tuesday, said Krungthai Bank market strategist Poon Panichpibool.

Poon said the baht might fluctuate and strengthen during the day as the market opens to more risks and foreign investors return to the Thai stock market.

However, any rise would be limited as importers are waiting to buy the dollar at the support level, expected to be 34 to the dollar.

Poon said that the baht will move between 34 to 34.40 to the dollar until new factors emerge.

He advised businesses to use hedging tools such as options to manage risks in the highly volatile currency market.

Published : May 31, 2022

By : THE NATION

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