BANGKOK, June 30 (Reuters) - Thailand’s central bank believes the baht is not too strong and is not hurting the country’s competitiveness, the finance minister said on Friday, as the currency hovered near two-year highs against the dollar.
The central bank noted that the baht’s strength was in line with regional currencies and was driven by a weaker dollar, Apisak Tantivorawong told reporters after meeting with central bank officials and Deputy Prime Minister Somkid Jatusripitak.
The baht traded at 33.97 per dollar on Friday, having appreciated by 5.4 percent against the greenback this year, becoming Southeast Asia’s best performing currency.
Apisak said the central bank had also confirmed that there were no signs of any bubbles in the economy.
Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Christian Schmollinger