BoT unfazed by weaker baht


BANGKOK, 26 April 2012  – The Thai central bank has affirmed that the weakening of the baht is nothing to worry about as it is still in line with regional currencies. 

Bank of Thailand (BoT) Assistant Governor Pongpen Ruengvirayudh said that the current movement of the baht has been quite volatile and the Thai currency has already weakened to as much as 31 baht per one US dollar.

However, Mrs. Pongpen stated that the BoT is not worried with the weaker baht. She said that the depreciation of around 4 percent is acceptable and under control for it is still in accordance with the movement of other regional currencies.

On Wednesday, the Thai currency opened slightly stronger from the preceding day’s close and moved within a narrow range before it wrapped up the day’s trade at 30.94-30.96 per US dollar.