The Bank of Thailand is vigilantly overseeing the baht to curb excessive fluctuations, as stated by an assistant governor on Thursday. In response to market dynamics, Sakkapop Panyanukul affirmed the bank’s commitment to aligning the currency with underlying economic indicators.
Panyanukul noted, “Since last night, we have closely tracked the baht’s trajectory,” mentioning that the currency has factored in the latest developments from the Federal Reserve. This comes as the baht declined against the dollar following the Fed’s indication of a more gradual trajectory for rate cuts extending into 2025.
The baht stood at 34.58 per U.S. dollar, slipping to a three-week low of 34.61 earlier, based on LSEG figures. Sakkapop highlighted the currency’s recent turbulence, attributing it primarily to external influences.
