Baht expected to see wide fluctuation amid global Covid-19 crisis
The baht opened at 31.39 to the US dollar on Friday, weakening from its close of 31.35 on Thursday. The Thai currency is likely to move between 31.30 and 31.45 during the day, Krungthai Bank market strategist Poon Panichpibool said.
He said the baht was facing several negative factors, such as the Covid-19 crisis in Thailand and in other countries.
Moreover, some companies have purchased foreign currencies to pay dividend. This activity tended to weaken the baht as well.
Poon predicted that the baht would move in a wide range after importers bought the US currency as the baht strengthened to 31.15 per dollar.
He expected exporters to sell the baht when it weakens to 31.50 per dollar.
