File photo for reference only

 

Finance Minister Ekniti Nitithanprapas declared on Wednesday that Thailand has not engaged in currency manipulation. He highlighted the central bank’s ability to manage the baht. without resorting to intervention. By December, the government aims to intensify scrutiny over illicit fund movements.

 

Ekniti’s reassurances followed a recent agreement between the US Treasury and the Bank of Thailand, ensuring no use of capital flow measures or government investment vehicles to target exchange rates. This agreement maintains Thailand’s objective of exchange rate stability, according to Chayawadee Chai-anant, central bank assistant governor. Currently, Thailand is not classified as a currency manipulator on the US Treasury’s list.

 

The US Treasury’s list monitors economies based on currency intervention and monetary policies influencing exchange rates. As of June 2025, nine countries are on the “monitoring list” for such practices, but no economies are designated as manipulators.

 

In a separate initiative, Ekniti announced progress in tackling “grey money” investigations to meet international standards. The focus is on aligning with standards set by the OECD, IMF, and BIS to strengthen anti-money laundering efforts. A subcommittee aims to identify and address leaks in the flow of grey money, with conclusions anticipated by December.

 

This subcommittee is part of the National Committee for the Prevention and Suppression of Technology-Related Crimes, led by the prime minister. Key members include officials from the Anti-Money Laundering Office and the Department of Special Investigation. Ekniti stated the intention to connect investigative efforts and make the pathways of grey money visible, although he noted this is a long-term commitment.

 

Key Takeaways:

 

• Finance Minister Ekniti denies that Thailand manipulates its currency.
• An agreement with the US strengthens Thailand’s exchange rate stability.
• Progress in ‘grey money’ investigations aims for enhanced international standards.

Related Storiy:

Bank of Thailand Intervenes to Manage Baht's Exchange Rate

 

  Adapted by ASEAN Now from Bangkok Post 2025-10-30

 

 

that would explain why the bhat gained almost 1% over the span of 2 days this week

Well lets see what happens when exports and tourism goes down  maybe  they will never get rid of black  money here too many people rely on it including police small shops and freelancers 

Thailand has been denying this for a very long time now. 

A few weeks back they claimed that the THB was too strong and the next day the THB started to weaken suddenly... The last few days however without any reason the THB is getting stronger again, although the news is that less tourists are visiting, no results yet of the 50/50 scheme, no positive economic news and no change in the border problems with Cambodia. Probably we will see the coming days that the THB will weaken again, but of course that is not due to the Thai Government or bank...

If the gov say it’s not being cooked, you can pretty much bet your bottom dollar on the opposite. 

Usual baht performance looking at the tracking . Ultra wealthy and the Thai banks buying at end of the month then selling first week following month and making millions . Don't tell me it's not manipulated , it's been this way for a long time. 

 

Nonsense.  Thailand has peanuts in interest rates and certainly isn't Switzerland.  How about a USD swap line?  

Always claim independence, well how about a phone call from the PM?  Then there is the printing press.  All part of the fiat

money system or monopoly money. 

34 minutes ago, chrisbangkok said:

Usual baht performance looking at the tracking . Ultra wealthy and the Thai banks buying at end of the month then selling first week following month and making millions . Don't tell me it's not manipulated , it's been this way for a long time. 

 

You have hit the nail on the head there @chrisbangkok. I know practically nothing about economics, but I understand that two things that should be of importance to Thailand are exports, and tourism. Both of these would gain by having a weaker Baht. Two things that are not good for Thailand are imports, and the ultra wealthy buying foreign currency, and that includes senior members of the Government with their "commissions".

5 hours ago, webfact said:

Finance Minister Ekniti Nitithanprapas declared on Wednesday that Thailand has not engaged in currency manipulation. He highlighted the central bank’s ability to manage the baht. without resorting to intervention.

Has it ever disengaged is the real question

5 hours ago, webfact said:

By December, the government aims to intensify scrutiny over illicit fund movements.

 

Until then, have at it!

Ironical that the US treasury is accusing Thailand of currency manipulation after Trump introduced tariffs making Thai products more expensive  and, as a result,  weakning the Thai baht. Just saying.

LOL

The Thai Baht is not being manipulated, the strength of the Baht only appears to be counter to all the usual economic factors because people do not realise how currency is valued.

 

The value of any national currency is based on how much of that currency is held in the secret bank accounts of government ministers.

If the US put Thailand in the manipulate list whats they gonna do then?

I guess continue what they doing now.The greedy Thailand will always try to cheating other.

7 hours ago, webfact said:

Finance Minister Ekniti Nitithanprapas declared on Wednesday that Thailand has not engaged in currency manipulation (...)

 

Well, Tuesday morning the baht suddenly got stronger by about 1 percent vs. all other currencies (incl. Asian ones), before falling back a bit... No manipulation, yeah, right! 😆 

This chart shows a huge and sharp change in the value of the baht on September 8. How could that be from ordinary market forces? I think a whole bunch of elites wanted to buy foreign currency and needed a strong baht for a while.

 

5 hours ago, dinsdale said:

Thailand has been denying this for a very long time now.

 

Not  after -97

Thailand Denies Currency Manipulation After US Treasury Deal.

 

Well the norm is that Denial always seem to Hide the real Truth

Wondering why THB is not stronger against EUR and other currencies but only against the US dollar. 

33 minutes ago, WebGuy said:

Wondering why THB is not stronger against EUR and other currencies but only against the US dollar. 

 

it is not only stronger against the Dollar.

 

Euro is down .58% and Pound down 1.29% against Baht over the last month.

 

Over the last week Euro is down .72% and Pound down 1.95% against it.

 

Right now the Dollar is up .37% over the month and down .94% over the week.

 

Over the years I have become convinced that the Baht "always" gets pumped up during the main tourist season.

 

 

7 minutes ago, Enoon said:

Over the years I have become convinced that the Baht "always" gets pumped up during the main tourist season.

 

Which, in this case, actually, makes sense due to the high demand for Thai cash...

I always believe government officials because they're usually very honest and trustworthy, and most of the time they have a very close relationship with truth.

 

And besides they they're working to make our lives better, so why would they try to mislead us? 

They manipulate everything and then live in denial....it's the Thai way !

You’ve gotta laugh, because they really expect people to believe this BS. 

sure they will deny it however the numbers speak for themselves.... depreciation of the USD depreciated the Baht to match the USD and that's how they expect the exports and foreign tourism to increase

13 hours ago, webfact said:

File photo for reference only

 

Finance Minister Ekniti Nitithanprapas declared on Wednesday that Thailand has not engaged in currency manipulation. He highlighted the central bank’s ability to manage the baht. without resorting to intervention. By December, the government aims to intensify scrutiny over illicit fund movements.

 

Ekniti’s reassurances followed a recent agreement between the US Treasury and the Bank of Thailand, ensuring no use of capital flow measures or government investment vehicles to target exchange rates. This agreement maintains Thailand’s objective of exchange rate stability, according to Chayawadee Chai-anant, central bank assistant governor. Currently, Thailand is not classified as a currency manipulator on the US Treasury’s list.

 

The US Treasury’s list monitors economies based on currency intervention and monetary policies influencing exchange rates. As of June 2025, nine countries are on the “monitoring list” for such practices, but no economies are designated as manipulators.

 

In a separate initiative, Ekniti announced progress in tackling “grey money” investigations to meet international standards. The focus is on aligning with standards set by the OECD, IMF, and BIS to strengthen anti-money laundering efforts. A subcommittee aims to identify and address leaks in the flow of grey money, with conclusions anticipated by December.

 

This subcommittee is part of the National Committee for the Prevention and Suppression of Technology-Related Crimes, led by the prime minister. Key members include officials from the Anti-Money Laundering Office and the Department of Special Investigation. Ekniti stated the intention to connect investigative efforts and make the pathways of grey money visible, although he noted this is a long-term commitment.

 

Key Takeaways:

 

• Finance Minister Ekniti denies that Thailand manipulates its currency.
• An agreement with the US strengthens Thailand’s exchange rate stability.
• Progress in ‘grey money’ investigations aims for enhanced international standards.

Related Storiy:

Bank of Thailand Intervenes to Manage Baht's Exchange Rate

 

  Adapted by ASEAN Now from Bangkok Post 2025-10-30

 

 

High season the baht gets strong. Low season it weakens. Always has always will. Thainess 🤷🏼

Why would the government manipulate the currency to be stronger? Surely, it would want a weaker currency for trade overseas? 

Seems to go against sense.

On 10/30/2025 at 3:31 AM, webfact said:

File photo for reference only

 

Finance Minister Ekniti Nitithanprapas declared on Wednesday that Thailand has not engaged in currency manipulation. He highlighted the central bank’s ability to manage the baht. without resorting to intervention. By December, the government aims to intensify scrutiny over illicit fund movements.

 

Ekniti’s reassurances followed a recent agreement between the US Treasury and the Bank of Thailand, ensuring no use of capital flow measures or government investment vehicles to target exchange rates. This agreement maintains Thailand’s objective of exchange rate stability, according to Chayawadee Chai-anant, central bank assistant governor. Currently, Thailand is not classified as a currency manipulator on the US Treasury’s list.

 

The US Treasury’s list monitors economies based on currency intervention and monetary policies influencing exchange rates. As of June 2025, nine countries are on the “monitoring list” for such practices, but no economies are designated as manipulators.

 

In a separate initiative, Ekniti announced progress in tackling “grey money” investigations to meet international standards. The focus is on aligning with standards set by the OECD, IMF, and BIS to strengthen anti-money laundering efforts. A subcommittee aims to identify and address leaks in the flow of grey money, with conclusions anticipated by December.

 

This subcommittee is part of the National Committee for the Prevention and Suppression of Technology-Related Crimes, led by the prime minister. Key members include officials from the Anti-Money Laundering Office and the Department of Special Investigation. Ekniti stated the intention to connect investigative efforts and make the pathways of grey money visible, although he noted this is a long-term commitment.

 

Key Takeaways:

 

• Finance Minister Ekniti denies that Thailand manipulates its currency.
• An agreement with the US strengthens Thailand’s exchange rate stability.
• Progress in ‘grey money’ investigations aims for enhanced international standards.

Related Storiy:

Bank of Thailand Intervenes to Manage Baht's Exchange Rate

 

  Adapted by ASEAN Now from Bangkok Post 2025-10-30

 

 

Kinda hard to dispute that they have engaged in manipulation when there's an article out that they will begin putting out notices in 2026 when they do manipulate forex trading 

Well, wonders never seize - the Thai Baht bounced a solid 2.5% within one week against the Swiss Franc. The miracles of free market economy without governmental interference - keep up the good work!