Thai foreign exchange reserves stable despite soaring dollar
THE NATION
Thailand's foreign exchange reserves remain high despite the strengthening of the dollar, government spokesman Anucha Burapachaisri said on Sunday.
Citing the Bank of Thailand's data, he said the country's foreign exchange reserve had dropped from US$278 billion at the beginning of this year to $240 billion as the dollar has strengthened significantly.
However, he said, Thailand is still stable financially and has the 12th highest foreign exchange reserve in the world.
He said Thailand’s foreign exchange reserve accounts for 48 per cent of the country’s gross domestic product, and it was three times higher than its foreign debt.
“Thailand has enough foreign exchange in reserve to tackle the current situation,” he said. “Its strong and stable financial market is also bringing in foreign investors.”
