Baht fluctuates, but moves in same direction as main currencies: BoT

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Bank of Thailand (BoT) Deputy Governor Atchana Waiquamdee on Friday conceded the baht had fluctuated quite heavily for now, but still moved in the same direction as other currencies in the region.

 

She said the main currencies including the euro(€) and Japanese yen(¥) are very volatile now since the countries of these currencies had paid more attention to managing their economies than overseeing their currency exchange rates.

Atchana said foreign capital had continued flowing into Thailand since early this year. Around 100 billion baht of this has been invested in the fixed income market with another 19-20 billion baht in the Thai stock market.

She expected that foreign capital would continue pouring into Thailand because the economy still had a good outlook and interest rate was on an upward trend.

“Looking quarter to quarter, foreign capital has flowed into the country this year in a much larger amount than that of last year because there have been neither prolonged rallies in the country nor further implementation of the quantitative easing measure by the United States so far. In the first quarter of this year, more than 120 billion baht has already flowed into the country,” she said.

Since early this year, she added, foreign capital has flowed into all markets in Asia except Taiwan. The central bank has closely monitored the baht movement and capital inflow, but found nothing unusual.