BoT: Baht fluctuation in line with regional currencies

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BANGKOK, 9 May 2012  – The Thai central bank has assured that the continued fluctuation of the baht has been nothing out of the ordinary. 

Bank of Thailand (BoT) Senior Director Singhachai Boonyayotin said on Tuesday that the local currency remains volatile and has just weakened by 0.7 percent from the level recorded in April.

However, Mr. Singhachai stated that, since the beginning of this year, the baht has appreciated by 1.81 percent, in line with regional currencies due to constant capital inflow.

The BoT’s Senior Director added that the incoming capital flow continues to be substantial as the investor confidence has been boosted by an improvement in the US economy and the US Fed’s more relaxation in its monetary policy.

Still, he cautioned that there remain a number of risk factors Thailand needs to keep an eye on, including the debt situation in Greece and the US economic outlook.