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Thai central bank intervenes to stabilise currency

The Bank of Thailand (BoT) said it has intervened in currency markets at times to ease any excessive moves in the THB, adding that the current policy rate is robust and conducive to economic recovery, reported the Bangkok Post.
Thai central bank intervenes to stabilise currency ảnh 1Illustrative image (Photo: kaohooninternational.com)
Bangkok (VNA) - The Bank of Thailand (BoT) said ithas intervened in currency markets at times to ease any excessive moves in the THB,adding that the current policy rate is robust and conducive to economicrecovery, reported the Bangkok Post.

Although volatility was high, it was not unusual and the THBwas moving in line with regional currencies, the bank’s assistantgovernor, Piti Disyatat, said on April 24. The THB was trading around 36.9 per USD in offshore markets on the same day’s afternoon, after falling past 37on April 22 and 23.

The central bank has no specific levels for the THB in mind,he added.

The current policy interest rate is robust and could handlefuture risks to the economy, the central bank said amid continued pressure fromthe government to lower borrowing costs and help jumpstart sluggish growth.

“The current policy rate is close to neutral,” Piti said asquoted by the newspaper, adding that the central bank was ready to adjust it ifneeded./.
VNA
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