Baht intervention necessary, says central bank chief
Too fast baht rise impacts exporters
Even if there had not been reports about intervention, it did not mean “we haven’t done anything,” says Bank of Thailand governor Sethaput Suthiwartnarueput. (Reuters file photo)
The Bank of Thailand bank has intervened in a bid to stem a rise in the baht because the currency has appreciated too fast and impacted exporters, its governor said on Thursday.
The strength of the baht, driven by news about progress developing a coronavirus vaccine, had exacerbated the country’s fragile economic recovery, Bank of Thailand governor Sethaput Suthiwartnarueput told reporters.
The economy Southeast Asia’s second-largest economy, which is heavily reliant on tourism and exports,…
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