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Despite small gains the Baht is expected to WEAKEN

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On Wednesday (18th March) the Baht had opened at Bt32.15 to the Dollar, which is up from the previous days.

It is expected that the Thai currency will move between Bt32.05  and Bt32.35 to the dollar. This had come from SCB Securities senior market strategist.

Jitipol Puksamatanan had said that ” the dollar this morning started to weaken, while Asian Currencies and gold price have strengthened. This will be a positive factor for the Baht and investment”.

But, the Bht still remains very vulnerable to market fluctuations, largely due to its low liquidity. For the short term, if the market contracts and the demand for the dollar liquidity is high, then the Baht will weaken to Bt33/USD within one or two weeks.

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