Cen bank dollar-buying boosts Thailand's reserves

THAILAND - Thailand's foreign reserves jumped by nearly 2% to a five-year high last week, official data showed on Friday, as the country's central bank bought dollars to slow a rise in the Thai currency.

Bank of Thailand figures showed official foreign reserves jumped by $714 million to $37.62 billion in the week to July 12, taking the central bank's financial war-chest to its highest level since April 1997.

The rise reflects steady buying by the central bank of dollars and sales of the baht, w