The BOT revealed that since the beginning of 2024, the baht has appreciated by 3.8% and is ready to take care of the baht. If it fluctuates abnormally much.
Ms. Pimphan Charoenkwan Assistant Governor Financial Markets Bank of Thailand (BOT) revealed that the baht has been more volatile recently. It has appreciated by 3.8 percent since the beginning of the year and appreciated quickly in the regional currency group in the third quarter due to external factors, especially the weakening of the US dollar. After the US Federal Reserve (FED) is likely to cut interest rates more than the market expects. Coupled with the announcement of economic stimulus measures by the Chinese authorities, which has a positive impact on the direction of the regional currency.
In addition, the baht has additional upward pressure from domestic factors. Foreign investment has started to flow back into Thai assets since the end of August, as well as gold prices have risen to a new high of US$2,670 per ounce.
However, The BOT closely
monitors the situation of the baht and is ready to take care when the baht fluctuates abnormally to minimize the impact on business operations of the real economy.
Source: Thai News Agency