Thailand responds to being put on US currency watch list
The central bank of Thailand (BoT) said on December 17 it did not see a big impact on foreign trade and investment from being put on a US currency watch list.
Bangkok (VNA) – The central bank ofThailand (BoT) said on December 17 it did not see a big impact onforeign trade and investment from being put on a US currency watch list.
Thebank also held that such assessment would not impede its ability toconduct macroeconomic policies to safeguard domestic stability.
The comment came after Washingtonput Thailand on its watch list of countries suspected of taking measures toweaken their currencies against the dollar.
BesidesThailand, China, Japan, the Republic of Korea, Germany, Italy, Singapore,Taiwan (China), Malaysia and India are also on the list.
Assistant governor Chantavarn Sucharitakul said in a statement that the BoT had conducted two-way interventiononly to ride out baht volatility and had no intention to do use the exchangerate to gain an unfair trade advantage and competitiveness over tradingpartners.
TheBoT has been in close dialogue with the US administration to foster anunderstanding of Thailand’s macroeconomic and financial conditions, and hadalso reiterated its commitment to exchange rate flexibility, she said.
TheThai baht rose 0.6 percent to 29.82 per US dollar, breaching the psychological30 level and at the strongest since May 2013./.
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Illustrative image (Photo: https://thethaiger.com/)
