SPECIAL COMMITTEE TO CLOSELY MONITOR BAHT - THAI PM

LINDA KHOO HUI LI

BANGKOK, Jan 2 (Bernama) – A special committee will closely monitor the baht after it hits a six-year high against the US dollar on Monday but the currency fell today as market liquidity has been restored.

Thailand’s Prime Minister General Prayuth Chan o-cha said the special committee comprising the Finance Ministry, Bank of Thailand (BoT) and National Economic and Social Development Board (NESDB) would monitor the baht movement.

The committee would find ways to slow down the baht appreciation, he said at a media conference after the weekly cabinet meeting here, today.

On Monday, the baht surged to its six-year high of 29.88 against the US dollar, however, it stood at 30.18 to the greenback this morning, weaker than its average value of 30.12 baht per dollar on Monday.

The market was closed on Tuesday and Wednesday for New Year holidays. 

Meanwhile, the BoT said the baht weakened today after market liquidity was restored.

In a statement, assistant central bank governor Vachira Arromdee said the baht would remain volatile as the market adjusts.

He said the central bank would closely monitor the baht’s movement.

-- BERNAMA

 

Tags: Thailand, Currency, Baht, Prayuth,