The Thai central bank is calling on the finance ministry to control gold trading after a surge in transactions helped drive up the value of the baht, its governor said on Thursday (Dec 18), adding that monetary policy could be further eased if needed after key rates were cut to a three-year low.
The baht has gained 9.1 per cent against the dollar so far this year to become Asia’s second-best performing currency, adding to the problems of Southeast Asia’s second-largest economy, which has been struggling with multiple challenges like US tariffs, high household debt, a border conflict with Cambodia and political uncertainty ahead of elections on Feb 8.
