Thai central bank chief: external factors constraints for managing baht
FILE PHOTO: A man holds up newly unveiled twenty baht polymer banknotes at Bank of Thailand headquarters in Bangkok, Thailand, January 20, 2022. REUTERS/Chalinee Thirasupa
BANGKOK : Thailand's baht is moving in line with regional currencies, with external factor the main constraint for managing volatility, the central bank governor said on Thursday.
The baht should move in line with market forces and the Bank of Thailand will only manage to curb excessive moves in the currency, Governor Sethaput Suthiwartnarueput told reporters on Thursday.
"We don't want so see high volatility (in the baht)," said the governor. "At some periods, we need to manage to curb volatility but not to go against the market," he said.
The central bank is urging the private sector to hedge against currency risks, he added.
The baht was trading at 37.81 per dollar at 0350 GMT, having hovered around a 16-year low against the greenback. It has depreciated about 11.7 per cent against the dollar so far this year
The central bank has said it is closely monitoring the Thai currency.
