Thai C.Bank to Hold Briefing on More Steps to Contain Baht

BANGKOK, Nov 30 Reuters Thailands central bank will hold a briefing on Dec. 9 to unveil additional measures to contain the baht, an official said on Monday, blaming both short and longterm factors for the currencys strength.

The measures to be implemented in the first quarter of next year will be aimed at adjusting the baht and the financial market environment, said Chayawadee ChaiAnant, a senior director at the Bank of Thailand BOT.

The baht had been quite volatile after factors such as progress developing a COVID19 vaccine attracted fund inflows, she said, adding the BOT was monitoring it 24 hours a day.

Short term inflows have increased, but they cant be classified as hot money or shortterm investment for liquidity management, Chayawadee said.

The baht traded at 30.27 per U.S. dollar on Monday, after hitting its highest level in more than 10 months of 30.13 on Nov. 16.

Earlier this month, the BOT announced a series of steps to deal with the rise of the baht, which the central bank said had undermined the countrys economic recovery.

Southeast Asias secondlargest economy still had momentum in the fourth quarter, supported by government stimulus measures, Chayawadee said.

But the pace of recovery might not be as strong as in the third quarter, when economic activity resumed after the easing of coronavirus restrictions, she said.

The economy contracted a less than expected 6.4 in JulySeptember from a year earlier after the June quarters 12.1 slump.

In October…

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