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BANGKOK, July 12 (Reuters) – Thailand's central bank announced on Friday that it has taken steps to mitigate the impact of short-term speculative flows in the context of strengthening the baht, and was ready to resort to additional measures if speculative trade persisted.
The Bank of Thailand "closely monitors the capital movements of Thai bahts and non-residents and is concerned by the rapid appreciation of the Thai baht compared to its regional counterparts, as it could have macroeconomic repercussions "Deputy Governor Vachira Arromdee said in a statement.
The central bank has reduced the balance of non-resident baht accounts (NRBA) and non-resident baht accounts (NRBS) to 200 million baht ($ 6.47 million) per non-resident of 300 million baht from July 22nd.
For more details, click on Measures in Baht here ($ 1 = 30.90 Baht) (Report by Orathai Sriring Editing by Darren Schuettler)
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