Thai central bank ready to manage excessive baht volatility

BANGKOK (Reuters) – Thailand’s central bank said on Wednesday it was closely monitoring capital movements and the baht currency and was ready to take action on any excessive volatility.

The baht has hit its weakest level in nearly six years against the dollar, which the central bank in a text message to media said was driven by expectations the U.S. Federal Reserve would accelerate policy tightening, and concerns over a global economic slowdown.

(Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Martin Petty)