BOT to Step in with Extra Measure to Curb the Appreciation of Thai Baht

The Bank of Thailand (BOT) showed concerns on the baht strength and vowed to step in with extra measures to curb the baht that could potentially worsen the economy.

Thai baht rose almost 2% against the greenback in the past month as the coronavirus started to stabilize, together with gradual easing lockdown, which caused an attraction of short-term capital flows to the baht.

To prevent the rising Thai baht from fluctuating the already weakened economy amid the coronavirus outbreak, The Bank of Thailand Deputy Governor Mathee Supapongse said that the central bank is ready to take necessary steps to curb the strengthening Thai baht.

Thai baht is now traded at 31.83 baht per 1 US dollar.