Economy January 19, 2018 01:00

2,920 Viewed

Deputy Prime Minister Somkid Jatusripitak insists that Thailand will not intervene in the baht’s movement, while inviting the United States to monitor the situation.

 In response to the Council of Foreign Relations, a US think tank which accused Thailand of currency intervention for a trade surplus against the US, Somkid said that the Thai government has no policy for currency intervention and the Bank of Thailand (BOT) has been monitoring capital movements without intervention. The baht has appreciated against the US dollar on the back of Thailand’s improved economic situation. Thailand faces an account surplus with the US due to the country’s economic fundamentals, which are in line with most countries in the region, he said.