Thai baht hits record high in two years (Source: bangkokpost.com)

Hanoi (VNA) – The value of Thai baht rose to 33.94 baht per USD, a record high in the past two years after the Bank of Thailand (BOT) decided not to take measures to stop the rise of the domestic currency.

The Thai baht is one of the best-performing currencies in Asia, ranking fifth since 2016, following the won of the Republic of Korea (up 7.9 percent), Taiwan dollar (7.2 percent), Indian rupee (5.9 percent) and Malaysian ringgit (5.5 percent).

Previously, in April, BOT imposed measures to scale back short-dated bond sales in an effort to lower short-term fund inflows, which strengthen the baht. The measures are still in place.

In related news, the Bank of Ayudhya, one of the local leading banks, raised its baht forecast average by 34.50 baht per USD at the end of the year from 35.50 previously because of greater uncertainties, particularly the US monetary and trade policy.-VNA