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THAILAND
Capital Markets
August 25, 2007
Baht fluctuation due partly to sub-prime lending woes

The baht has fluctuated rather heavily due in part to impacts of the sub-prime lending woes in the United States, according to the Bank of Thailand.

BoT assistant governor Nitaya Pibulratanagit said the ongoing baht volatility was not of concern because the movement remained in a normal range.  The fluctuation was partly attributed to the United States Federal Reserve's decision to cut the discount rate by a half percentage point in a bid to ease mounting concerns over the sub-prime mortgage problems.

The assistant governor said the move had affected financial markets around the world, so in that perspective the baht volatility is not unusual. She affirmed the central bank had always supervised the value of the baht, and that it had never ignored absorbing liquidity in the face of an excess. TNA reports

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