Gold trade props up baht, but foreign investors watching Covid situation
The baht opened at 31.18 to the US dollar on Tuesday, unchanged from Mondays close.
The Thai currency is likely to move between 31.10 and 31.25, Krungthai Bank market strategist Poon Panichpibool said.
He explained that the dollar this time had weakened while the baht was supported by gold trade.
However, he said the baht could weaken if foreign investors decide to sell their assets in Thailand, due to concerns about the Covid-19 situation and vaccine distribution.
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