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Thailand not happy with hot money: central bank chief

  • Jul 08, 2019

[CHIANG MAI] Thailand’s central bank is not happy with hot money flowing into the country and has sometimes taken action on excessive moves in the baht, the governor said on Monday.

Any intervention is not for a competitive advantage in trade, Bank of Thailand Governor Veerathai Santiprabhob told a seminar in the northern city of Chiang Mai.

The baht’s strength has been driven by a weak dollar, foreign fund inflows and Thailand’s large current account surplus, he said.

The baht has appreciated about 5.7 per cent against the dollar so far this year, becoming the best performing currency in Asia.

REUTERS