Bangkok Post
Central bank insists the baht is stable
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The Bank of Thailand says it is confident about the baht's stability despite recent depreciation against the US dollar amid heightened external uncertainties.
Key facts
- Since the onset of the Middle East conflict, the baht has weakened by 5.4% against the dollar
- However, foreign investors have recorded net sales of Thai assets totalling only US$1.3 billion.
- Since the war against Iran started, the rupiah has weakened by more than 8%, one of its sharpest declines on record.
- The Bank of Thailand says it is confident about the baht's stability despite recent depreciation against the US dollar amid heightened external uncertainties.
- Given the baht's resilience and Thailand's strong external fundamentals, the central bank's Monetary Policy Committee (MPC) sees no need to convene a special meeting, unlike its counterpart in Indonesia, said Chayawadee Chai-anant,
- The decline followed sustained foreign investor selling of Indonesian equities and bonds totalling roughly $3.9 billion
Summary
Given the baht's resilience and Thailand's strong external fundamentals, the central bank's Monetary Policy Committee (MPC) sees no need to convene a special meeting, unlike its counterpart in Indonesia, said Chayawadee Chai-anant, assistant governor for corporate relations and spokesperson for the regulator.
Since the onset of the Middle East conflict, the baht has weakened by 5.4% against the dollar. However, foreign investors have recorded net sales of Thai assets totalling only US$1.3 billion.