Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors 

Thai c.bank says has acted to curb baht volatility

10/01/2022 | 02:49am EST

BANGKOK, Oct 1 (Reuters) - Thailand's central bank has been in the foreign exchange market to reduce currency volatility, the central bank said on Saturday, as the Thai baht currency hovered at 16-year lows against the dollar.

The baht has fallen 11.7% against the dollar this year, which the central bank said had been driven by dollar strength.

However, the weighted baht index against other currencies has been stable, while the country's external position and banking system remained strong, Deputy Bank of Thailand Governor Mathee Supapongse told reporters.

"We've entered the market sometimes to slow down volatility (in the baht)," he said, adding the BOT had no target for baht levels.

A fall in Thailand's international reserves was not because of currency intervention but rather asset valuations, he said.

Despite wide Thai-U.S. rate differentials, Thailand has attracted capital inflows, Mathee said.

Foreign investors have bought 150 billion baht ($3.97 billion) of Thai shares so far this year but sold 33 billion baht of bonds.

Governor Sethaput Suthiwartnarueput said gradual and measured policy tightening was suitable to support Thailand's still slow economic recovery, but he was ready to adjust if needed.

On Wednesday, the BOT raised its key interest rate by a quarter point to 1.00% to tame 14-year high inflation. ($1 = 37.77 baht) (Reporting by Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Kim Coghill Writing by Orathai Sriring Editing by Kim Coghill)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / THAI BAHT (AUD/THB) -0.52% 23.575 Delayed Quote.-1.67%
BRITISH POUND / US DOLLAR (GBP/USD) -0.02% 1.2287 Delayed Quote.-9.40%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.01% 0.7419 Delayed Quote.-5.91%
EURO / THAI BAHT (EUR/THB) -0.18% 36.521 Delayed Quote.-2.95%
EURO / US DOLLAR (EUR/USD) 0.07% 1.054 Delayed Quote.-7.41%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.11% 0.012297 Delayed Quote.-8.26%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.01% 0.6408 Delayed Quote.-6.84%
US DOLLAR / THAI BAHT (USD/THB) 0.00% 34.69 Delayed Quote.4.79%
Latest news "Economy"
12:21pLarge demos in Malta as parliament debates 'abortion law'
RE
12:21pUkraine presidential aide warns against Musk's 'magical simple solutions'
RE
12:09pMoldova central bank to hold extraordinary meeting on Monday
RE
11:53aECB's Villeroy says in favour of 50 bp rate hike on Dec. 15
RE
11:35aIsraeli president touts business ties on first Bahrain visit
RE
11:35aECB's Villeroy says in favour of 50 bp rate hike on Dec. 15
RE
11:31aSaudi Exchange launches market-making framework to boost liquidity
RE
11:31aSouth Africa's Ramaphosa says ANC executive to decide his fate
RE
11:13aSudanese anti-corruption figure freed on eve of political deal
RE
10:57aEU to adapt state aid schemes in response to U.S. subsidy package
RE
Latest news "Economy"