It is not often to see the Bank of Thailand (BoT) announce its intervention in the Thai currency even though such practice is a normal duty of a central bank.
On Thursday, BoT governor Veerathai Santiprabhob made his statement that the central bank has sporadically taken action against the currency's weakness by selling the US dollar to smooth out the baht's movement after it depreciated at a faster pace and lowered foreign reserves.
The move is to curb the baht's rapid retreat against the greenback as the local currency hit a nine-month low.
