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Thai baht in line with econ fundamentals, peers -c.bank chief
October 19, 2017 / 5:17 AM / a month ago

Thai baht in line with econ fundamentals, peers -c.bank chief

BANGKOK, Oct 19 (Reuters) - Thailand’s baht currency is still moving in line with economcic fundamentals and regional peers, the central bank governor said on Thursday, as the baht hovered near more than 29-month highs against the dollar.

Thailand’s external position is strong enough to cope with rises in U.S. interest rates, Veerathai Santiprabhob told reporters.

The baht has strengthened by 8 percent against the greenback so far this year, the biggest gainer among Asian currencies.

Veerathai also expected the central bank to maintain its current headline inflation target of 1 percent to 4 percent next year.

Thailand’s annual headline consumer prices rose 0.53 percent in September, below the target range, but Veerathai said they should return to the band early next year or by mid-2018. (Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Clarence Fernandez)

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