BANGKOK, June 30 (TNA) - The Bank of Thailand (BoT) says  global money market  continues  to  move in volatility...

Global Money Market in Volatility on Greece

By English News | 30 มิ.ย. 2558 16:05 | 6516 views | View Comment
 
BANGKOK, June 30 (TNA) - The Bank of Thailand (BoT) says  global money market  continues  to  move in volatility  on traders’ concerns  over Greece’s potential debt default and possible  leaving from the euro zone  while the Thai baht moves within short range on Tuesday, said Chantawan  Sujaritkul,  assistant governor of BoT.
 
Mrs. Chantawan said investors do not have confidence and want to invest in safer business  ventures, pressing US and German-issued bonds to fetch a better value  while the Japanese yen strengthened  and the euro currency weakened. 
 
Asian currencies and stock markets  continued to retreat, said Mrs. Chantawan, adding that  South Korea’s won and Malaysia’s ringgit  currencies  weakened 0.75  and 0.41 per cent respectively. The Thai baht softened 0.15 per cent. 
 
Because of the uncertainty, global money market  is expected  to move in volatility  and would affect  Euro, she said. The BoT  will monitor  the situation  closely and ready to step in to maintain  the stability of Thai monetary system. 
 
By early Tuesday, the baht stood at 33.76-33.78  against the greenback, strengthening from yesterday closing  at 33.85 – 33.86 baht a dollar. 
 
The baht is expected to move  between 33.75 – 33.85  against the dollar  on Tuesday as traders  are closely monitoring  whether Greece would be able to repay 1.6 billion euros   to the International Monetary Fund  due today.(TNA)