Thailand not happy with hot money: central bank chief
[CHIANG MAI] Thailand's central bank is not happy with hot money flowing into the country and has sometimes taken action on excessive moves in the baht, the governor said on Monday.
Any intervention is not for a competitive advantage in trade, Bank of Thailand Governor Veerathai Santiprabhob told a seminar in the northern city of Chiang Mai.
The baht's strength has been driven by a weak dollar, foreign fund inflows and Thailand's large current account surplus, he said.
The baht has appreciated about 5.7 per cent against the dollar so far this year, becoming the best performing currency in Asia.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’