BANGKOK,(NNT) – The Bank of Thailand (BoT) has revealed that the Thai baht has fluctuated due to uncertainty surrounding the economic policies of major world powers.
BoT Governor Veerathai Santiprabhob however noted that the Thai baht is not as volatile as other Asian currencies. The government has moved to stabilize the baht by maintaining its interest rate policy and striking deals with other ASEAN nations.
Nevertheless, the BoT governor suggested that currency traders take precautions and open a foreign currency deposit account (FCD) to hedge any losses. He also advised that they make an advanced foreign currency purchase agreement with the bank.