The Bank of Thailand (BOT) has stepped in to moderate the rapid appreciation of the Thai baht, which recently hit its strongest level in four years. Assistant Governor Chayawadee Chai-anant confirmed the central bank’s intervention during a press briefing on Friday, emphasizing the institution’s commitment to managing currency volatility. ‘We are closely monitoring and managing the baht’s movements, as reflected in the rise in foreign reserves,’ she stated. The baht was trading at approximately 31.86 per U.S. dollar, marking an 8% increase this year—the second-largest gain among Asian currencies, trailing only the Taiwan dollar. Chai-anant attributed the baht’s surge to a combination of factors, including a weaker U.S. dollar, Thailand’s current account surplus, gold trading activities, and political developments. She also noted that the central bank has no immediate plans to implement a gold tax, citing the need for further discussions. The BOT’s strategy remains focused on preventing excessive fluctuations in the currency, ensuring stability in the financial markets.