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Official: Baht surge fits fundamentals

Movement in line with Asian currencies' trend

Experts say the baht is just tracking other Asian currencies, reflecting 'strong fundamentals' and needs no intervention. (File photo)

The strengthening baht is in line with the economy's fundamentals and no intervention by the central bank is needed, says a high-ranking finance official.

"The stronger baht that has been observed recently reflects Thailand's strong economic fundamentals, so we should not panic over it," said finance permanent secretary Somchai Sujjapongse.

The baht rose to 34.66 to the US dollar at one point Monday, its strongest level since early October.

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