The original home of the Bank of Thailand
Deputy Prime Minister/Finance Minister Kittiratt Na-Ranong said the Bank of Thailand should better manage the baht in order to avoid further exchange rate volatility.
According to Kittiratt, the Baht has achieved a high of TBH28 per dollar but has now dropped to TBH31. The development has caused a severe impact on importers. He also said that the country’s national reserves are bigger compared to other countries and could be used as a vital factor to maintain the movement of the baht in order to prevent further volatility of the currency.
He was not particularly concerned regarding the country’s plummeting stock index, as it is a regional trend and a feature of the TIP group: Thailand, Indonesia, and the Philippines.
