Poon from Krung Thai Bank said that forecasts suggest the baht will keep strengthening and that it may prove hard for the central bank to intervene on a large enough scale to reverse the trend.
BENGALURU: The Thai baht reversed early gains to trade flat on Wednesday afternoon, with traders saying the central bank appeared to have intervened to limit the currency's appreciation, which it has repeatedly said is negative for the economy.
The baht firmed by up to 0.2% at 29.990 in early trade, slipping below the 30.0 per dollar mark that Thai exporters on Tuesday urged the central bank to preserve to maintain competitiveness.
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