BoT intervened to stabilise baht in Aug
- Published: 16/08/2013 at 04:36 PM
- Online news:
The Bank of Thailand reported that foreign reserves as of Aug 9 totalled US$172.2 billion, an increase of $900 million from the previous week, with the central bank buying dollars from the spot market to keep the baht from fluctuating too sharply.
The net forward position, reflecting the central bank's status on foreign currency purchases in the futures market, totalled $23.7 billion, up $200 million from the previous week, putting net foreign reserves at $195.9 billion, it said.
Reserves increased slightly because the BoT had to intervene in the money market to curb the baht's fluctuation by purchasing US dollars on the spot market, the central bank said.
Cash flow from the private sector and financial institution deposits at the central bank totalled 1.34 trillion baht, slightly down from 1.37 trillion baht reported in the previous week. Current cash flow and liquidity is sufficient for accommodating spending demand in the system, the bank said.
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