InfoQuest (July 19, 2019) - Fluctuations including appreciation and depreciation eyed in Thai baht exchange rate can be attributed to multiple factors, according to Mr. Uttama Savanayana, minister of the Ministry of Finance. At present, the surge in the baht is due to a high level in Fitch Ratings, trade surplus and current account surplus, which is caused by market mechanism.
The minister noted that he believes the Bank of Thailand (BOT) later will keep the foreign exchange rate of the baht at a reasonable level. The Ministry of Finance and the BOT will keep consulting on relevant monetary policies. However, it did not mean that the ministry will intervene in the policies the BOT launches to curb the currency exchange rate or to adjust the policy rate.
Source: InfoQuest, by Thapa/ Kasamarporn/ Rachada, translated by Xinhua Silk Road
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