Thai baht to move in line with market mechanism

BANGKOK, August 19 (TNA) - The government has no policy to intervene in the currency market, but allowing the Thai baht to move in accordance with the market mechanism. Permanent Secretary for Finance Somchai Sajjaponse told journalists of the government's stance on Friday, insisting that the Thai currency will be allowed to mostly move in line with the market mechanism with limited measures, aimed only to maintain its stable value. Somchai stressed that the Bank of Thailand (BOT) has taken good care of the baht appropriately, expressing his confidence that the central bank will continue to watch out the Thai currency to move or have any change in a balanced aspect and within a stable range. The senior official's remarks were in response to a recent call by the local private sector that BOT should devalue the Thai currency to 45-46 baht a US dollar. The Thai baht, meanwhile, stood at 34.61-34.63 baht a US dollar when the currency market was opened on Friday morning. (TNA)