January 17, 2018 / 6:02 AM / a year ago

Thai c.bank has found 'unusual speculation' in baht trade - governor

BANGKOK, Jan 17 (Reuters) - Thailand’s central bank governor said on Wednesday it has found “unusual speculation” in the baht from some local financial institutions, but noted recent strength in the currency is expected to have only a limited impact on exports.

The central bank in the short term will ensure the baht’s strength will not affect businesses, Veerathai Santiprabhob told reporters.

“We have found that certain domesic financial institution helped customers in speculuating exchange rates... and we have already investigated and taken action,” he said. He did not name the institutions.

The strengtening of the baht has been driven by a weaker dollar, Thailand’s current account surplus and rising capital inflows, even as they are still at normal levels compared to those in other countries.

The baht traded at 31.94 per dollar at 0545 GMT, hovering near a 3-1/2 year high. It has appreicated more than 11 percent against the greenback since the start of 2017. (Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Sam Holmes)

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