BANGKOK, 24 May 2014 – Despite the declaration of military coup, the Central Bank does not believe that the value of Thai currency will depreciate and drop to 37 baht per one US dollar.
According to Bank of Thailand (BOT) Governor Prasarn Trairatvorakul, he is confident that the Thai currency will not decrease in value to the point where one US dollar can be traded for 37 baht as forecast by Morgan Stanley, an American multinational financial services corporation.
Due to the weakening dollar, the governor said the Thai currency will average around 32 baht per dollar, thanks to the nation’s strong economic fundamentals.
He made known that even though the military coup could impair investors’ confidence in the Thai economy, Standard & Poor’s will not lower the country’s credibility.
