Thailand's central bank announces measures to contain baht rise

[BANGKOK] Thailand's central bank unveiled on Friday new measures related to the baht in a bid to help balance capital flows after a rapid appreciation in the currency, an assistant governor said.

The new rules will allow Thais to freely hold and transfer foreign currency deposits and to directly invest more in overseas securities, Vachira Arromdee told a briefing.

The baht traded at 30.31 per US dollar at 0331 GMT after hitting a more than 10-month high of 30.13 on Monday.

On Thursday, the governor said the baht had risen too fast and undermined the country's fragile economic recovery.

REUTERS

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