BANGKOK: Thailand’s central bank cannot target baht levels that go against market forces, an assistant governor said on Tuesday, as the Thai currency strengthened.
Fixing exchange rates at certain levels will open the door to currency speculation and affect the overall economy, Chantavarn Sucharitakul said in a statement.
Global financial markets are likely to be more volatile and trade-related businesses should pay attention to currency risk management, she said after a meeting between the central bank and the Thai National Shippers’ Council.
The baht rose about 0.2% to 31.06 per US dollar on Tuesday after hitting a month-high last week. The group last week said the baht at 33-34 per US dollar would help exports. – Aug 11, 2020, Reuters
