The baht weakened to 34 baht against the US dollar on Tuesday, its lowest point against the greenback in five years, due to growing concerns on global economic situations, with analysts warning of further losses.
The Thai currency opened at 34.07 baht per US dollar on Tuesday, a level not seen since 2017, weakening from Monday’s close of 34.04.
Poon Panichpibool, a market strategist at Krungthai Bank, said the currency market is avoiding mounting risks arising from the Federal Reserve’s interest rate hikes and the Covid-19 outbreak situation in China.
(Source: – Asean Now)