International reserves surge in September
วันเสาร์ ที่ 25 ก.ย. 2553

, Sept 25 – Thailand’s international reserves as of Sept 17 stood at US$159.1 billion or some Bt4.9 trillion, up $1.5 billion or Bt46 billion from the $157.6 billion or Bt4.86 trillion registered the week before, according to the Bank of Thailand (BoT).

The reserve amount is calculated based on the current baht value standing at Bt30.7 to the US dollar.

The net forward contract position amounted to $12.5 billion, up $800 million from $11.7 billion listed in the previous week.

A commercial bank source said the fact that Thailand's international reserves this week increased rather considerably from the week before was likely to have stemmed from the central bank giving more weight to possible intervention in managing the stronger baht by purchasing more US dollars in the market and keeping them in the reserve.

Last week, the Bank of Thailand experienced strong criticism in the market that it had paid little attention to overseeing the stability of the baht.

According to the central bank’s report, the cash flow circulating in the system this week totaled Bt1,008 trillion, down Bt30.8 billion from Bt1.039 trillion the week before. The cash amount had decreased despite the country’s economic recovery.