Finance Minister Uttama Savanayana said on Oct. 9 that the central bank should "take care” of the currency. The central bank’s foreign-cash pile stands at $220 billion, the equivalent of more than 12 months of imports. And inflation, currently 0.3%, has been running below the central bank’s target of 1% to 4% since June. In July, they reduced the cap on non-resident bank accounts to 200 million baht ($6.6 million) from 300 million baht and, to boost surveillance, said the actual owners of local debt securities must be reported. However, much will depend on the outcome of the U.S.-China trade dispute and how the Thai central bank reacts to the baht’s continued appreciation.

Source: The Star October 25, 2019 06:56 UTC