ID :
408250
Tue, 05/31/2016 - 10:34
Auther :

BOT: Weakening baht is in line with regional trend

BANGKOK, May 31 (TNA) - The Bank of Thailand (BOT) says that the depreciation of the Thai baht currently is in line with a trend of regional currencies, caused by the strengthening of the US dollar. BOT Governor Veerathai Santiprabhob told journalists on May 30 that a swift appreciation of the greenback recently, due to a US Federal Reserve (FED) policy, has resulted in the weakening Thai currencies and others in the region. Veerathai said that BOT will keep closely monitoring the situation to ensure that the Thai baht should not stay volatile and affect the national economy. Touching on a lesser use of the baht banknotes in the country, Veerathai acknowledged that new banknotes were normally printed 6-7 per cent annually to replace the old ones, but only 2-3 per cent of new paper money is being printed now. The BOT chief attributed the changing scenario to more people's having switched to settle payments through electronic systems (e-systems) and more endurance of banknotes. According to the BOT governor, his central bank and commercial banks in the country are discussing on fixing appropriate fees of banking services charged from customers in both the forms of cash and e-payment systems. (TNA)

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