Bank of Thailand prepared to intervene if the baht strenghtens too much

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BoT prepared to intervene in forex

Published: 22 Jan 2013 at 16.01
Online news: Local News

The Bank of Thailand is ready to intervene if it is deemed necessary to curb the baht’s continuing appreciation, BoT governor Prasarn Trairatvorakul said on Tuesday.

Mr Prasarn said the central bank has been closely watching the baht's movement and will step in if the Thai currency fluctuates too much.

He said the baht value was moving in line with other currencies in the region, even though it had fluctuated too much over past weeks due to foreign direct investment (FDI) inflow.

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Bangon
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Discussion 4 : 22 Jan 2013 at 19.034
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Hush! I've heard from a 'banker' that several BIG funds in Singapore and Malaysia are 'playing on the Baht' for years now, and manipulating the exchange rates to their profit, with the 'active help' of top guys at the Bank of Thailand... In Chivas Veritas, or might this be true? It's also quite 'old fashioned' to keep the exchange rates' policy based on the USD only, the more so when one sees which currency zones Thailand makes most (export, and import) business with.
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rastas
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Discussion 3 : 22 Jan 2013 at 18.473
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Leave the Baht alone and just let the bubble burst naturally, then the baht will discintergrate back to the 2006 rates,
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yik
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Discussion 2 : 22 Jan 2013 at 18.272
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As the THB is NOT internationally traded, 'interventions' are not much more, that 'nice cosmetic'.
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phetpeter
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Discussion 1 : 22 Jan 2013 at 16.131
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Ready ! How about now bring it back up to 50baht to the pound or real suffering will bite both in tourism, and exports. It is not in line with the real world..I believe edging their bets on how much the markets will stand, and then it will be too late for businesses to recover.
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Bank of Thailand prepared to intervene if the baht strenghtens too much | Bangkok Post: news

BoT prepared to intervene in forex

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