(Photo: Somchai Poomlard)The stronger dollar has weakened the Bank of Thailand's international reserves, but the central bank says the country's external position and financial stability remain strong. The bank's foreign reserves declined to US$240 billion from $278 billion at the beginning of this year. The stronger dollar meant the valuation of multiple-currency assets in dollar terms declined, said the central bank. She said the Bank of Thailand's foreign reserves remain in solid condition at $240 billion, representing 48% of the country's GDP, with the total ranking 12th globally. Year-to-date foreign investors have bought around 160 billion baht of Thai assets -- more than 160 billion baht in stocks and small sales of around 700 million baht in bonds.

Source: Bangkok Post September 15, 2022 23:29 UTC