Thai cenbank says not worried about weaker baht
17-MAY-2008 Intellasia | Reuters
May 17, 2008 - 7:00:00 AM
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The Bank of Thailand is not worried about a weaker baht and wants it to move in line with regional currencies, the governor said on Thursday.
"We will take care of the baht to prevent any excessive moves. But it's not a problem right now because some other currencies are weaker than us," central bank Governor Tarisa Watanagase told reporters.
She said the weaker baht was due to foreign and Thai investors buying dollars but declined to say whether the central bank had intervened in the currency market.
The baht was trading near a three-month low of 32.46 to the dollar at 0324 GMT. So far this year, it has risen about 3.8% against the dollar.
Tarisa said the baht was still moving in line with regional currencies.
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