Thai central bank chief says weaker baht will help economy
[BANGKOK] Thailand's central bank governor said on Thursday that he was satisfied with a weaker baht, saying it will support the country's economic recovery.
"(The weakening baht) has been quite good after its strength previously. For the time being, the weakening baht will benefit a recovery in the Thai economy," Bank of Thailand Governor Prasarn Trairatvorakul told reporters.
The baht stood at 33.36 per dollar at 0508 GMT, its lowest in more than five years, following a surprise rate cut last week and the central bank's measures to rein in the currency.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India’s Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise