BOT: US Monitoring List Doesn't Impact Baht Management

Khaosod•Economy•252d ago

Reader Briefing

Thailand's addition to the U.S. Treasury's Monitoring List for FX behavior will not hinder the Bank of Thailand's management of the Thai Baht.

•Thailand has been placed on the U.S. Treasury's Monitoring List for exchange rate behavior due to its current account surplus and trade balance with the U.S.
•The Bank of Thailand states this inclusion does not equate to being a currency manipulator and will not restrict its ability to manage the Baht's volatility.
•Thailand has previously been on the Monitoring List without impacting its monetary policy, and the recent inclusion has not affected financial markets.

•The U.S. Department of the Treasury has published a report placing Thailand on its Monitoring List for exchange rate behavior.
•Thailand met two out of three criteria: a current account surplus of 3.8% of GDP (July 2567 - June 2568 B.E.) and a trade surplus with the U.S. exceeding $15 billion.
•Chayawadee Chai-anan, Assistant Governor of the Bank of Thailand (BOT), clarified that being on this list does not mean Thailand is a currency manipulator.
•The BOT's exchange rate policy primarily aims to manage currency 'volatility' by preventing rapid appreciation or excessive depreciation.
•Thailand was previously on the Monitoring List for approximately 2-3 assessment periods between 2563-2564 B.E. without policy impacts.
•The next U.S. assessment will cover Jan-Dec 2568 B.E., with results expected mid-year.
•Thailand's current account surplus for 2568 B.E. is projected to be around $17.7 billion, close to 3% of GDP.
•Chayawadee Chai-anan expressed a very low probability of Thailand being upgraded to a currency manipulator due to significant changes in global financial contexts.

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Chayawadee Chai-anan

"Being placed on the monitoring list does not mean Thailand is a currency manipulator."

การถูกจัดอยู่ในบัญชีเฝ้าระวังดังกล่าว ไม่ได้หมายความว่าไทยเป็นประเทศที่ปั่นค่าเงิน

Chayawadee Chai-anan

"Thailand's exchange rate policy primarily focuses on managing currency 'volatility'."

การดำเนินนโยบายอัตราแลกเปลี่ยนของไทยมุ่งดูแล “ความผันผวน” ของค่าเงินเป็นหลัก

Chayawadee Chai-anan

"The chance is very small, as the current global financial context has changed significantly."

มีโอกาสน้อยมาก เนื่องจากบริบททางการเงินโลกในปัจจุบันเปลี่ยนไปอย่างมาก

Bank of Thailand (BOT)(ธนาคารแห่งประเทศไทย (ธปท.))ℹ️

The central bank of Thailand responsible for monetary policy and currency management.

United States Department of the Treasury(กระทรวงการคลังสหรัฐอเมริกา)ℹ️

The U.S. government department responsible for financial and economic policy, which publishes the FX Monitoring List.

Chayawadee Chai-anan(นางสาวชญาวดี ชัยอนันต์)

Assistant Governor and Spokesperson for the Bank of Thailand, who provided clarification on the U.S. Monitoring List.

Monitoring List

The U.S. Treasury's designation of countries under scrutiny for their currency practices.

Currency Manipulator

A country officially designated by the U.S. Treasury for deliberately manipulating its currency to gain an unfair trade advantage.