ID :
110804
Wed, 03/10/2010 - 09:28
Auther :
Shortlink :
http://m.oananews.org//node/110804
The shortlink copeid
Baht weakens on market concerns over applying security act
BANGKOK, Mar 10 (TNA) – Thailand's baht currency has weakened temporarily due to market concerns in response to Tuesday's Cabinet decision to invoke the Internal Security Act in the capital and its environs to prevent possible violence from political rallies by Red Shirt demonstrators, according to the Bank of Thailand (BoT).
Wongwatoo Potirat, senior director of the BoT Financial Markets and Reserve Management Department, said the currency depreciation also stemmed from an adjustment of the foreign currency position by commercial banks.
The central bank sees nothing out of order in the foreign capital outflow, she said. Foreign investors still had a net buy in the trading on the Stock Exchange of Thailand (SET).
Ms Wongwatoo said the bank is not greatly worried about the current baht movement since it is not very volatile.
“The baht has depreciated slightly due chiefly to local factors. It will last only temporarily. There is nothing to worry about regarding external factors," she said.
"The bank will continue monitoring the situation," she said, "but it wants to see the market move normally based on the situation at that time”. (TNA)
Wongwatoo Potirat, senior director of the BoT Financial Markets and Reserve Management Department, said the currency depreciation also stemmed from an adjustment of the foreign currency position by commercial banks.
The central bank sees nothing out of order in the foreign capital outflow, she said. Foreign investors still had a net buy in the trading on the Stock Exchange of Thailand (SET).
Ms Wongwatoo said the bank is not greatly worried about the current baht movement since it is not very volatile.
“The baht has depreciated slightly due chiefly to local factors. It will last only temporarily. There is nothing to worry about regarding external factors," she said.
"The bank will continue monitoring the situation," she said, "but it wants to see the market move normally based on the situation at that time”. (TNA)
