BOT denies spending $3-4bn on intervention

Bank of Thailand governor M.R. Pridiyathorn Devakula has conceded the central bank had intervened in the market to support the baht, but denied it had spent up to US$3-4 billion on intervention.

The BOT's clarification came in response to a report by Phatra Securities Plc's that the central bank had already spent around $3-4 billion of its reserve purchasing the baht and dumping the dollar in the forward market, and would have to intervene in a few months ahead.

BOT chief M.R. Pridiyathorn brus