BoT shrugs off US currency watchlist tag
Central bank intervenes to steady the baht, not to gain a trade edge, says official
The Bank of Thailand has responded to the US decision to keep the country on a currency manipulation watchlist by asserting that it has stepped into the market only to curb volatility in the baht.
The central bank is committed to exchange-rate flexibility, with “interventions limited only to curbing excessive volatility and rapid movements of the baht on both sides,” assistant governor Chantavarn Sucharitakul said in a statement Saturday.
“Thailand has never used the exchange rate as a tool to gain an unfair trade advantage,” she added.
