Thai Central Bank Vows to Step In If Baht Moves Are Unhinged

Thailand’s central bank is ready to tackle excessive baht volatility by managing any moves “unhinged” from its fundamentals, a deputy governor said, amid calls from local businesses to temper the currency’s rally to help exports and tourism.

“We do look at the baht closely and try not to let it be too volatile,” Piti Disyatat said in an interview late on Thursday. “If it’s driven by non-fundamental reasons, portfolio perceptions, sentiment that’s unhinged with macro fundamentals then we will reduce the volatility.”