BoT keeping eye on Greek crisis

BANGKOK, 10 May 2010 (NNT) – The Thai Baht today moves in accord with other regional currencies under stable liquidity and economic situation, owing to the assistance package for the Greek financial crisis.

Deputy Governor of the Bank of Thailand (BoT) Bandid Nijathaworn stated that the market had responded positively towards the introduction of the aid measures, which had significantly helped lessen investors’ concerns over the impact from Greece’s debt problem.

Mr Bandid admitted however that some countries, especially those with high public debts, were facing limitation in implementing fiscal policies to boost their economies. The persisting complication may impact the global economy in the latter half of this year. The BoT has to keep a close watch on the situation as expansionary monetary policies are still used in many countries with fiscal policy constraints.

As for Thailand, the Monetary Policy Committee is evaluating the effects on the Thai exports and the spending of the government and the private sector.

Today’s Thai baht currency opened at 32.25 THB against the USD, strengthening from 32.32-32.36 THB at the market closing last Friday.