BoT: Baht stable now

The Thai baht is now stable and moving in line with the currencies of other countries in the Asian region, central bank deputy governor Pongpen Ruangveerayuth said on Friday.

  • Published: 5/04/2013 at 03:48 PM
  • Newspaper section: breakingnews

The baht had slightly appreciated following the decision clearing Prime Minister Yingluck Shinawatra of concealing a 30 million baht loan to a company in her assets and liabilities declaration.

The National Anti-Corruption Commission (NACC) on Thursday dismissed the case on grounds that Ms Yingluck had not done anything to conceal it or to make a false declaration of assets and liabilities to the anti-graft agency.

Mrs Pongpen said the baht had rapidly strengthened recently, but was now more stable while other currencies were appreciating.

She suggested that Thai manufacturers should take the opportunity of the current weakening yen and strengthening baht to import capital goods to increase production efficiency.

Asked about measures to stabilise the baht currency, Mrs Pongpen said all needed measures were in place. The Bank of Thailand must carefully assess the advantage and disadvantage of each measure before implementing it, she said.

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