BOT:Stronger Thai baht is in line with regional currencies

BANGKOK, July 21 (TNA) -The Bank of Thailand (BOT) reports that the strengthening Thai baht is caused by the weakening US dollar, but the appreciation of the Thai currency is in line with the trend of other currencies in the region. While reporting the situation of the regional currency market, BOT Governor Dr. Veerathai Santiprabhob told journalists on July 20 that the weakening US dollar is caused by declining confidence in the US politics under the Trump administration among international investors, which may delay the introduction of new US economic stimulus measures. The BOT governor stressed that the appreciation of the Thai currency currently is in line with other currencies in the region. The BOT governor suggested, however, that private firms buy insurance policies on risks incurred by the fluctuation of foreign exchanges in adavance as a normal practice, instead of pouring to buy such the insurance service during a time of change in the Thai baht in order to help relieve the fluctuation of the Thai currency. (TNA)