BANGKOK: Thailand's central bank said on Tuesday it was not worried about fund outflows as the country had sufficient foreign reserves and that it would let the baht move in line with market forces but would act on excessive moves.
"From our assessment, we have enough reserves at the moment to cover outflows and maintain economic growth including imports. So this is not an issue at the moment," Bank of Thailand Deputy Governor Pongpen Ruengvirayudh told reporters.
The central bank was studying whether foreign reserves, currently around $172 billion, could be used to invest in stocks or to set up a fund, she said, without elaborating.
She added that weakness in the baht would not add to inflationary pressures. The baht was at 32.14 per dollar on Tuesday, its weakest level in three years as investors fled emerging markets.
Comments
Comments are closed for this article.