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Thai central bank says it is not trying to weaken baht

Thursday, May 28, 2015 - 11:58
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Thailand's weak baht is helping the economy but the central bank will not try to weaken the currency too much, the Bank of Thailand governor (pictured) said on Thursday.

[BANGKOK] Thailand's weak baht is helping the economy but the central bank will not try to weaken the currency too much, the Bank of Thailand governor said on Thursday.

The baht's weakness helps exporters earn more in baht revenue, Governor Prasarn Trairatvorakul told reporters. "But we should not buy foreign currencies to weaken the baht too much because it will put the economy into a corner, undermining the country's stability and causing currency speculation," he said.

The baht stood at 33.82 per dollar on Thursday, near its lowest level in more than five years.

REUTERS