BANGKOK - Thailand's baht has risen too quickly, the central bank governor said on Tuesday, but he repeated that the authorities had no plans to introduce controls to curb its strength.
"The baht's appreciation is too rapid and we are quite concerned about it and will monitor it closely," Bank of Thailand Governor Prasarn Trairatvorakul told reporters.
"Implementing any measures will have side-effects ... So we need to be careful on this," he said.
The baht rose about 1.2 per cent compared with Friday to 28.94 per dollar and was at a 16-year high.
The market was closed on Monday for a holiday.