The Thai baht opened on Thursday at 36.25 to the US dollar, a new 6-and-a-half-year low since 2016. The local currency weakened from Wednesday’s closing rate of 36.07.
Krungsri Bank analysts predict further baht depreciation today on the heels of continued market concern on the state of the US and European economies. In addition, the price of gold fell rapidly last night. This is anticipated to increase gold imports today, resulting in a stronger dollar and further weakening of the baht.
Thai baht is expected to move between 36.15 and 36.40 against the US dollar during the day.