BoT curbs strong baht

Published: 3/06/2009 at 02:41 PM
Online news:

The Bank of Thailand has intervened in the foreign exchange market after the value of Thai baht in the past eight months strengthened continually due to the weakening US dollar.

BoT assistant governor Suchada Kirakul said on Wednesday that the central bank had to restrain the appreciated value of baht.

However, she insisted the baht's movement was in line with other regional currencies.

The BoT had bought dollars in the foreign exchange market to maintain the baht's value at 34.02 baht per dollar, Mrs Suchada said.

The Thai currency hit an eight-month high at 33.98 baht per US dollar on Wednesday morning.

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John

Discussion 2 : 03/06/2009 at 05:41 PM2
Even after the intervention the Baht strengthened against the dollar, maybe more drastic actions are called for.
Richard

Discussion 1 : 03/06/2009 at 04:18 PM1
Why? Dr Tarisa said it didn't matter. Or was that her tune then, and this is her tune now. Incompetent doesn't even begin to describe their level of ability. They fouled up in 1997 and they are going to foul up again.

John

Discussion 2 : 03/06/2009 at 05:41 PM2

Even after the intervention the Baht strengthened against the dollar, maybe more drastic actions are called for.

Richard

Discussion 1 : 03/06/2009 at 04:18 PM1

Why? Dr Tarisa said it didn't matter. Or was that her tune then, and this is her tune now. Incompetent doesn't even begin to describe their level of ability. They fouled up in 1997 and they are going to foul up again.

BoT curbs strong baht