Off-shore and on-shore baht converged

The baht value in off-shore market has weakened to Bt31.50 a dollar toward on-shore baht value of Bt31.53-Bt31.54 at 10 am on Monday after the controversial capital control was lifted.

Bank dealers said despite the exchange curbs removal, exporters did not rapidly sold the dollar this morning. They believe the Bank of Thailand has intervened in the currency market to keep the baht from too much volatility. While the baht trading volume has been normal today, traders said they are waiting to see how the central bank would manage the baht.

The baht was opened at Bt31.50-Bt31.55 early morning today before depreciating slightly to Bt31.53-Bt31.54 at 10 am. - The Nation

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Off-shore and on-shore baht converged

The baht value in off-shore market has weakened to Bt31.50 a dollar toward on-shore baht value of Bt31.53-Bt31.54 at 10 am on Monday after the controversial capital control was lifted.

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