The value of Thai baht rose to 33.94 baht per USD, a record high in the past two years after the Bank of Thailand (BOT) decided not to take measures to stop the rise of the domestic currency.
Thai baht hits record high in two years (Source: bangkokpost.com)
Hanoi (VNA) – The value of Thai bahtrose to 33.94 baht per USD, a record high in the past two years after the Bankof Thailand (BOT) decided not to take measures to stop the rise of the domesticcurrency.
The Thai baht is one of the best-performingcurrencies in Asia, ranking fifth since 2016, following the won of the Republicof Korea (up 7.9 percent), Taiwan dollar (7.2 percent), Indian rupee (5.9percent) and Malaysian ringgit (5.5 percent).
Previously, in April, BOT imposed measures toscale back short-dated bond sales in an effort to lower short-term fundinflows, which strengthen the baht. The measures are still in place.
In related news, the Bank of Ayudhya,one of the local leading banks, raised itsbaht forecast average by 34.50 baht per USD at the end of theyear from 35.50 previously because of greater uncertainties, particularly the US monetary and trade policy.-VNA
The Thai Chamber of Commerce (TCC) have agreed to cooperate with government organisations in establishing a currency committee to ensure baht stability in a meeting with the Ministry of Finance, a new media resource said.
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Thai baht hits record high in two years (Source: bangkokpost.com) 
