Thailand Seeks Ways to Curb Gold Price Impact on Currency
The Thai baht typically gets a boost when Thais sell gold, which is highly valued as an investment.
Photographer: Alessia Pierdomenico/BloombergThailand’s central bank and the finance ministry are discussing ways to address currency moves that are not aligned with fundamental factors, including the impact of gold prices, according to a deputy governor.
Gold prices are among the non-fundamental factors affecting the baht’s movement and authorities are looking at ways to reduce the correlation between the two, Bank of Thailand Deputy Governor Roong Mallikamas said in an interview. She declined to say what steps were being planned or how soon they will be announced.