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.
Although volatility was high, it was not unusual and the THB was moving in line with regional currencies, the bank’s assistant governor, 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 37 on April 22 and 23.
The Thai bath. Photo courtesy of kaohooninternational.com.
The central bank has no specific levels for the THB in mind, he added.
The current policy interest rate is robust and could handle future risks to the economy, the central bank said amid continued pressure from the government to lower borrowing costs and help jumpstart sluggish growth.
“The current policy rate is close to neutral,” Piti said as quoted by the newspaper, adding that the central bank was ready to adjust it if needed.
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