About the AUD/THB rate
The AUD/THB rate is how many THB one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/THB rate history.
The other directions of this rate: the reverse rate, THB → AUD, is on the receiving Thai baht view, and sending Australian dollars to Thailand is covered on the AUD → THB transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
The letter the governor has to publish
Thailand's central bank is unusually explicit about how the accountability works. The inflation target is agreed each December between the Bank of Thailand and the minister of finance and taken to cabinet for approval, covering the coming year and the medium term. If inflation misses it, the governor writes an open letter to the minister setting out the reasons, the policy direction for returning inflation to target, and the timeframe for doing so. The Bank states that the content of that letter is made public.
The currency sits inside that same structure. Thailand uses a managed float, and the Bank's own description is that "the market mechanism determines the value of the Thai baht and the Bank of Thailand could intervene in case the currency becomes excessively volatile". The rate is not a target and is not defended at a level: intervention smooths, and a movement that follows from the economy itself is allowed to happen.
The Bank has pursued flexible inflation targeting since May 2000, working towards three goals at once: medium-term price stability, sustainable economic growth and financial stability. It reaches for monetary, financial, macroprudential, exchange rate and capital flow policy together, on the reasoning that the tools interact with one another and cannot sensibly be set in isolation, and it calls the combination an integrated policy framework. The exchange rate is therefore one instrument among several rather than the thing being aimed at, which is what separates a managed float of this kind from an arrangement built to hold a currency at a level.
Sources: Bank of Thailand, About monetary policy