The Bank of Thailand convenes urgent talks with gold traders
Urgent meeting with traders explores measures to curb currency's abnormal strength
The Bank of Thailand (BoT) has called an urgent meeting with gold traders and business operators to address the continuous appreciation of the Thai baht, which has been driven by a weakening US dollar and a sharp rise in gold prices.
The move comes as the baht's strength reaches a four-year high and leads currency appreciation in the region.
The BoT has expressed concern that the baht's 7% appreciation since the start of 2025 is impacting the economy.
The central bank is exploring measures to mitigate the effect of gold transactions on the currency and has advised businesses to use hedging tools to manage the risks associated with global financial market volatility.
The meeting, held this afternoon, aims to establish a framework of appropriate measures to ensure the baht's value more accurately reflects underlying economic fundamentals.
The goal is to reduce the negative impact on exporters and enhance the stability of the entire financial system.
