BoT governor: Thailand assets a safe haven
Foreign investors are parking money in Thai assets in the short run because they see the baht as a safe haven backed by solid foreign reserves amid global market fluctuation, the central bank chief says. But the Bank of Thailand has instruments up its sleeve to curb capital flows if needed, Bank of Thailand governor Veerathai Santiprabhob said at a seminar held on February 23 by Land and Houses Bank. Thailand’s strong external front, as seen by high international reserves, is encouraging foreign investors to shift money back to the Thai capital and bond markets, at least in the short term. Thailand currently has reserves of around US$200 billion, including US dollar forwards, representing the 12th-highest foreign reserves in the world,” Mr Veerathai said.
