BANGKOK, June 30 (TNA) – The Bank of Thailand (BoT) says global money market continues to move in volatility on traders’ concerns over Greece’s potential debt default and possible leaving from the euro zone while the Thai baht moves within short range on Tuesday, said Chantawan Sujaritkul, assistant governor of BoT.
Mrs. Chantawan said investors do not have confidence and want to invest in safer business ventures, pressing US and German-issued bonds to fetch a better value while the Japanese yen strengthened and the euro currency weakened.
Asian currencies and stock markets continued to retreat, said Mrs. Chantawan, adding that South Korea’s won and Malaysia’s ringgit currencies weakened 0.75 and 0.41 per cent respectively. The Thai baht softened 0.15 per cent.
Because of the uncertainty, global money market is expected to move in volatility and would affect Euro, she said. The BoT will monitor the situation closely and ready to step in to maintain the stability of Thai monetary system.
By early Tuesday, the baht stood at 33.76-33.78 against the greenback, strengthening from yesterday closing at 33.85 – 33.86 baht a dollar.
The baht is expected to move between 33.75 – 33.85 against the dollar on Tuesday as traders are closely monitoring whether Greece would be able to repay 1.6 billion euros to the International Monetary Fund due today.(TNA)
