Bank of Thailand to unveil measures to contain baht

The Bank of Thailand (BoT) will hold a briefing on Dec 9 to unveil additional measures to contain the baht, an official said on Monday, blaming both short- and long-term factors for the currency’s strength.

The measures to be implemented in the first quarter of next year will be aimed at adjusting the baht and the financial market environment, said Chayawadee Chai-Anant, a senior director at the BoT.

The baht had been “quite volatile” after factors such as progress developing a Covid-19 vaccine attracted fund inflows, she said, adding the central bank was “monitoring it 24 hours” a day.

“Short term inflows have increased, but they can’t be classified as hot money or short-term investment for liquidity management,” Ms Chayawadee said.

The baht traded at 30.27 per US dollar on Monday, after hitting its highest level in more than 10 months of 30.13 on Nov…