The Bank of Thailand has stated that it is ready to address fluctuations in the Thai baht to limit their impact.

The Bank of Thailand has stated that it is prepared to deal with fluctuations in the Thai baht in order to minimize its impact on the commercial sector. The bank also mentioned that the recent strengthening of the Thai baht is mainly due to the weakening of the US dollar, as market expectations regarding Federal Reserve policy direction have influenced the exchange rate. Pimpan Charoenkwan, Assistant Governor of the Financial Markets Department at the Bank of Thailand, stated in a declaration on Monday that the baht has also been under pressure from forex sales by exporters and gold trading companies, as well as inflows into the bond market. The statement noted that the baht rose by about 1% last week. The Bank of Thailand is taking further measures, including: suggesting that the Ministry of Finance amend regulations to raise the threshold for overseas income that does not need to be repatriated from the current $1 million per transaction to $10 million; adjusting operational guidelines; and instructing financial institutions to strengthen review processes before conducting forex transactions related to gold.