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BANGKOK (Reuters) -Thailand's central bank has been in the foreign exchange market to reduce currency volatility, the central bank said on Saturday, as the Thai baht currency hovered at 16-year lows against the dollar.
The baht has fallen 11.7% against the dollar this year, which the central bank said had been driven by dollar strength.
However, the weighted baht index against other currencies has been stable, while the country's external position and banking system remained strong, Deputy Bank of Thailand Governor Mathee Supapongse told reporters.
"We've entered the market sometimes to slow down volatility (in the baht)," he said, adding the BOT had no target for baht levels
.
.
@yourforexbroker
Your Forex Broker- Forex News
BANGKOK (Reuters) -Thailand's central bank has been in the foreign exchange market to reduce currency volatility, the central bank said on Saturday, as the Thai baht currency hovered at 16-year lows against the dollar.
The baht has fallen 11.7% against the dollar this year, which the central bank said had been driven by dollar strength.
However, the weighted baht index against other currencies has been stable, while the country's external position and banking system remained strong, Deputy Bank of Thailand Governor Mathee Supapongse told reporters.
"We've entered the market sometimes to slow down volatility (in the baht)," he said, adding the BOT had no target for baht levels
.
.
@yourforexbroker