The Bank of Thailand sees no necessity for special measures in response to the baht's depreciation and falling prices on the Stock Exchange of Thailand, central bank governor Prasarn Trairatvorakul said on Tuesday.
The changes resulted from short-lived factors including lower oil prices and rumours which caused the SET index to plunge, he said.
The BOT was monitoring the situation. The baht moved moderately in the same direction as other Asian currencies, the central bank governor said.
The oil price decline would have a short-term impact on energy stocks, which accounted for 10% of shares in the SET. Investor confidence might be affected, but in the medium term Thailand as an oil importer should benefit from lower prices, he said.
Mr Prasarn said he did not expect the Russian ruble's sharp depreciation to have any direct impact on Thailand. The ruble is not a major currency for international trade and Thai-Russian trade is limited. A decrease in the number of Russian visitors to Thailand could be an indirect impact, he said.
The SET fell by 29.64 points, or two percent, in total trade of 38 billion baht. The value of the baht stood at 32.97 baht against the US dollar mid-Tuesday.