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The Bank of Thailand said it has intervened in the foreign exchange market to slow baht volatility while the currency hovered near 16-year lows against the dollar. Deputy Governor Mathee Supapongse said the bank has no target level for the baht.
The central bank also raised its policy rate by a quarter point to 1.00% to fight 14-year-high inflation.
A weaker baht raises the local-currency cost of imported feed ingredients and makes Thai feed buyers' dollar purchases more expensive. Intervention limits the pace of the fall but does not reverse the dollar-driven trend.
investing.comSep 30, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
