The Bank of Thailand (BoT) has asserted that it has stepped into the market only to curb volatility in the baht, and Thailand has never used the exchange rate as a tool to gain an unfair trade advantage.
BoT assistant governor Chantavarn Sucharitakul said the central bank is committed to exchange-rate flexibility, with interventions limited only to curbing excessive volatility and rapid movements of the baht on both sides.
She said Thailand remains on the US currency manipulation list that require monitoring for 2 consecutive periods, but no impact on business flows and activities between the private sector engaging in bilateral trade and investment with the US.
