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Wednesday’s opening rates show a minor weakening of the baht compared to the dollar

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In addition to this, he suggested that investors use methods of hedging, such as options, in order to limit their exposure to risk in a currency market that was excessively volatile. He also noted that the exit of foreign investors from the Thai stock market could add to the pressure that is being put on the baht to drop, which is the currency of Thailand. On the other hand, he expressed skepticism over the possibility of a significant devaluation of the Thai baht and projected that an important resistance level for the currency would be located between 35.20 and 35.30 baht to one dollar. The value of the baht has been supported by a number of factors, the most notable of which is the sales of dollars by particular exporters and the international purchases of short-term and long-term bonds issued by the Thai government.

The opening rate of the baht to the US dollar was 35.10 on Wednesday, which indicated a modest fall from Tuesday’s closing rate of 35.07. The previous day’s closing rate was 35.07. Poon Panichpibool, an expert on the Krungthai market, predicted that the value of the currency would most likely change throughout the course of the day against the United States dollar within the range of 35.00 and 35.20. Poon forecast that the value of the baht might drop significantly further if the currency market maintained its current risk-averse stance. This would have the effect of increasing the value of the dollar in the short term and putting downward pressure on the price of gold.

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