ID :
9448
Fri, 06/06/2008 - 11:17
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Shortlink :
https://oananews.org//node/9448
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CENTRAL BANK SEES NO NEED TO INTERVENE IN BAHT VALUE FOR NOW
BANGKOK, June 6 (TNA) – Bank of Thailand (BoT) Governor Tarisa Watanagase on Thursday indicated the central bank saw no need to intervene in the value of the baht for now although the currency continues to weaken.
The baht closed at 32.88/92 to a dollar on Thursday, compared with32.68/71 on Wednesday.
Mrs. Tarisa said the baht had weakened for this moment partly because foreign investors had dumped shares in the stock market and brought a certain amount of money out of the country.
However, the baht depreciation remained unworrisome because the currency continued to move in the same direction with other currencies in the region.
She said the bank had not attempted to intervene in the baht movement because it did not want to distort the market mechanism.
Actually, the bank had an approach to supervise the baht value, but it could not at this point entirely reveal its planned response.
"We have not intervened in the baht value for a while," Mrs. Tarisa said.
"Today, we cannot tell whether we will intervene to supervise the currency movement or not.
"We have our own ways to oversee the currency, but cannot tell in detail," she said.
The baht closed at 32.88/92 to a dollar on Thursday, compared with32.68/71 on Wednesday.
Mrs. Tarisa said the baht had weakened for this moment partly because foreign investors had dumped shares in the stock market and brought a certain amount of money out of the country.
However, the baht depreciation remained unworrisome because the currency continued to move in the same direction with other currencies in the region.
She said the bank had not attempted to intervene in the baht movement because it did not want to distort the market mechanism.
Actually, the bank had an approach to supervise the baht value, but it could not at this point entirely reveal its planned response.
"We have not intervened in the baht value for a while," Mrs. Tarisa said.
"Today, we cannot tell whether we will intervene to supervise the currency movement or not.
"We have our own ways to oversee the currency, but cannot tell in detail," she said.
