BOT profits hit by exchange rates

The Bank of Thailand's (BOT) annual report recorded Bt5 billion net profit for 2003, a sharp drop of 58 per cent from the previous year, attributed to foreign exchange losses and lower interest income.

Charinya Kaewmanee, director of the BOT's accounting group, said the central bank does not maximise profits as a first priority. Rather, it focuses its efforts on stabilising the economy and exchange rate system.

Charinya said the BOT's foreign asset value, appraised in Thai currency at the end of

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