Thai central bank says baht weakness in line with regional FX, will smooth excessive moves

[BANGKOK] Thailand's baht is still moving in line with regional currencies, the governor of the Bank of Thailand said on Monday, as the baht hit a near four-month low against the dollar.

Baht volatility has been mainly driven by external factors such as market sentiment and the policy of the US Federal Reserve, Veerathai Santiprabhob told reporters.

"We will continue to monitor the volatility so that it won't become a problem. We will keep the baht at appropriate levels so that it's not different from regional peers."

Thailand has recorded net foreign portfolio inflows of US$3.2 billion since the start of the year.

The baht was at 35.82 per dollar at 0749 GMT. It has strengthened more than 0.7 per cent so far this year.

REUTERS