Baht likely to weaken, says BoT deputy governorFILE PHOTO: Mathee Supapongse, a deputy governor of the Bank of Thailand, is pictured in 2015. (Photo supplied)The baht is likely to weaken on more foreign selling, a lower current account surplus and reduced dollar-related gold trading flows, a deputy governor of the Bank of Thailand (BoT) said on Wednesday. "That makes the baht not a safe haven as it was before," he said. Still, the baht has appreciated 7.5% against the US dollar so far this year, hurting Thai exports, a key growth driver. The gold trade had helped push the Thai currency to a six-year-high as traders who had exported gold repatriate their dollars back to exchange the proceeds for baht.

Source: Bangkok Post December 04, 2019 09:45 UTC