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