Thai central bank says it is not trying to weaken baht
[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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Fed’s preferred core inflation gauge rose at a brisk pace in March
Thames water crisis risks £100 billion UK investment plan
Indian central bank issues draft guidelines for web aggregators of loan products
Vietnam National Assembly head resigns amid graft purge
China central bank flags bond investment risks to some financial institutions: sources
Xi tells Blinken US, China should be 'partners, not rivals'