BANGKOK, May 13 (TNA) — The Bank of Thailand (BoT) insists it does not intervene in foreign exchange rates to create an edge on trade with the United States.
Chantawan Sucharitkul, BoT assistant governor, responded to a Bloomberg report that the US would expand its investigation into currency exchange intervention to 20 countries, from 12, and the expansion would reach Thailand.
She said Thailand did not intervene in foreign exchange rates for any trade advantage. Thailand had some trade surplus with the US and thus was likely to be included in the probe. Thailand was ready to explain the issue to the US, she said.
The Bank of Thailand had discussed with US representatives the Foreign Exchange Report of the US Department of the Treasury for three years in order to understand the work of the US Department of the Treasury, capital flows in global markets and the perspectives of emerging markets that needed to handle the fluctuations of currency values. (TNA)
