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Economy

Thailand not a currency manipulator, says central bank chief

Veerathai warns that US trade protectionism could hurt global investment

Bank of Thailand Governor Veerathai Santiprabhob speaking to Nikkei in Bangkok on April 23. (Photo by Takaki Kashiwabara)

BANGKOK -- Thailand does not intervene with foreign exchange rates to gain competitiveness in trade, its central bank chief said on Monday, amid rising concerns that the country may become the first in Southeast Asia to be placed under trade scrutiny by the U.S.

In an interview with the Nikkei Asian Review, Bank of Thailand Governor Veerathai Santiprabhob stressed that the Thai baht had been moving in line with market supply and demand, pointing out that the currency had been strengthening in the past year or so to become one of the best-performing currencies in the region due to capital inflows from advanced economies.

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