ASEAN KEY DESTINATIONS
BoT: No special measures despite baht depreciation
BANGKOK, Dec 16 -- Bank of Thailand (BoT) Governor Prasarn Trairatvorakul, said today that the central bank would not issue any special measures for the time being although the baht rate has fallen close to Bt33 per one US dollar.
Mr Prasarn said he was not worried because capital outflows remained normal, the baht has moved in tandem with other currencies in the region and its fluctuation is moderate.
He also commented that the severe depreciation of ruble after Russia raised its key interest rate would not directly impact Thailand because the ruble is not an international currency and the Russian money market is not connected to other countries.
The central bank chief expects only an indirect impact, that is a decline in the arrivals of Russian tourists in Thailand.
The baht value opened at Bt32.95-32.96 per US dollar compared with its close at Bt32.97-32.99 per dollar yesterday afternoon.
Concerned parties are monitoring the Stock Exchange of Thailand and waiting for a resolution of the Monetary Policy Committee meeting tomorrow.
Mr Prasarn also said that the plunging oil price would have short-term impacts including investors selling energy and petrochemical stocks.
He viewed the Thai economy as benefiting in the medium term because the oil price decline will help the oil-importing country cut its production costs.
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