BOT:Stronger baht is currently beneficial to Thailand

BANGKOK, March 20 (TNA) - The Bank of Thailand (BOT) has pointed out that the current appreciation of the Thai baht is a national benefit, as the stronger Thai currency is relieving the country's rising burden on higher imported energy costs. BOT Assistant Governor Pongpen Ruengvirayudt, who oversees the financial market, insisted that there is now no need to regulate the baht appreciation, as the strengthening Thai currency is easing the country's shouldering of rising costs of energy imports. Pongpen acknowledged that the baht movements currently are considered normal, as international investors are in their "risk-on" period, when they are mostly taking higher-risk investment, and that the Thai central bank is monitoring global updates to see when international investors switch to their "risk-off" mode with resumed precautions in their investment. According to the BOT assistant governor, foreign capital has remaining flowing into Thailand, evidenced by the rising Stock Exchange of Thailand (SET) index lately and the baht appreciation to around 30.6 baht a US dollar currently. The Thai baht, meanwhile, moved between 30.66-30.68 baht a US dollar on Monday and has remained on its upward trend, cushioned by a drop in world gold prices and the weakening US dollar against the euro and the Japanese yen. (TNA)