The Bank of Thailand intervened in the currency market last week in what was believed to be an attempt to prevent the baht strengthening so as to stop export recovery momentum stalling, according to a senior official at Kasikornbank (KBank).
A sign of the central bank’s intervention was that the baht was pegged back at no more than 33.80 to the dollar throughout last week, said Kobsit Silpachai, head of the bank’s capital market research department.
Full story: Bangkok Post
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